Agenda item

Members gave consideration to a report presented by the Economic Growth Officer, which was presented as response to a motion to Council from Councillor M. Snee. At its meeting on 27 January 2025 Council resolved unanimously that a review of the banking facilities available in the Gainsborough and surrounding area be considered as part of the wider market place regeneration, and a report be submitted to the Corporate Policy and Resources Committee by November 2025 detailing whether a banking hub, like that in Market Rasen is necessary and deliverable.

Members heard that recommendations for Banking Hub provision were made by LINK to Cash Access UK who were tasked with delivery, the process for which was set out within the report. It was noted that the Financial Services and Markets Act 2023 only provided protections for cash access, not face-to-face banking services or advice. Gainsborough’s current provision, as assessed by LINK in January 2025 (which incorporated the planned closure of Halifax), was above the threshold for recommendation of additional services.

It was explained that the criteria used by LINK to assess a community’s needs had been developed and agreed following extensive consumer and small business group input. Their considerations included rurality, demographics, business profile, financial vulnerability, physical geography, transport options/ease and seasonal demand for services. The January 2025 assessment made no recommendations for further facilities within Gainsborough as the remaining services met the criteria for the size of population, number of businesses, demographic and geography. A reassessment of this position could not be requested through the LINK process within 12 months of an existing assessment being carried out, unless the community’s circumstances or provision had significantly changed.

Members were advised that whilst it was not possible to request a review at this time, there was an outline communications plan presented with the report, which sought to publicise the available provision in Gainsborough as had been identified in the 2025 assessment.

The Chairman thanked the Officer for her thorough and well-presented report, and invited the Interim Head of Paid Service to comment.

Mr Cullen highlighted to Members the incredible work undertaken by the Economic Growth Officer, Claire Hill, and asked that the Committee recognised what she had achieved, noting it was not an easy task to gain access to the companies involved. The Chairman concurred with the comments and requested that the Committee’s commendation for the Officer’s work be recorded.

A Member of the Committee shared Councillor M. Snee’s apologies for not being able to attend the meeting, and noted her disappointment that another review of facilities was not possible. However, Councillor Snee had welcomed the recommendations within the report and extended her thanks to Officers for their efforts and continued support.

Members continued to express their thanks for the work undertaken, noting that the outcome was not surprising but had provided excellent opportunity to raise awareness of local issues. It was noted that, whilst the focus remained on access to cash, many concerns had been raised regarding businesses being able to deposit cash. There was provision for businesses to deposit cash, for example at the Post Office, however clearance times meant there were several working days between the cash being deposited and being available in the account. For small businesses this was having a serious impact on their cash flows and causing potential difficulties with making payments.

Additionally, Members raised concerns regarding the security implications of potentially carrying significant amounts of cash in public areas, depending on the location of available facilities, as well as the lack of services available to those who could not use internet or telephone services. It was recognised that the legislation did not prioritise those considerations, and Members suggested there was a case for further lobbying, for the legislation to be reviewed. It was acknowledged that whilst it would not only be problematic for those in rural districts, it was likely that the lack of service provision was of greater concern in rural areas compared to urban communities.

It was enquired as to whether there would be opportunity for the regeneration of the high street area to support a re-assessment of facilities, with the example being given that there was no facility open on a Saturday, which was a key shopping and trading day. The suggestion of further lobbying was reiterated, focusing on the need for facilities being available, which would in turn aid economic growth.

With thanks once again extended to the Officer, and having been proposed, seconded and voted on, it was

            RESOLVED that

a)    the review of banking provision within Gainsborough and the surrounding area be noted; and

b)    the LINK Cash Access Assessment Outcome for Gainsborough published in January 2025 be noted; and

c)    the proposed next steps and Communications Plan in relation to banking facilities within Gainsborough be noted; and

d)    a letter from the Chairman of the Corporate Policy and Resources Committee be sent to:

·         LINK, encouraging them to reconsider their current protocols in relation to assessment notification and to include District Councils in this process whilst the re-organisation of local government is still to be finalised; and

·         Lloyds Banking Group, encouraging them to consider ongoing community banking provision in Gainsborough.