Partner Article

Poll reveals support for public bank

Almost three quarters of people in the North East believe there is a need for a publicly run bank, according to new research published today.

Poll results released by the Post Bank Coalition today show that 74% of people believe there is a need for a publicly run bank, with 61% saying they would be likely to use such a bank at the Post Office.

The poll, which comes just days before the Government consultation into post office banking closes, is the latest evidence that there is growing demand for a new model of banking based on the trusted post office network.

The Post Bank Coalition is now calling on the Government to use the consultation as an opportunity to establish a publicly-owned Post Bank in the Post Office.

Pauline Osborne, chair of the North East branch of the Federation of Small Businesses, said she agreed that a publicly run bank would be beneficial to SMEs.

She said: “Small businesses have had enough of the ongoing difficulties they encounter with their banks, and they need more options for taking out loans or extending overdrafts. The results from this survey show very clearly that the high street banks do not meet the needs of small businesses and that a Post Bank – a new bank set up in Post Offices around the country – would provide a solution to the problem of poor access to finance. It is time for the Government to listen to what businesses and communities want and make the Post Bank happen.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .