Labour government 'would secure future of Wakefield post offices'

A Labour government has said it will secure the future of post offices across the Wakefield district, shadow chancellor John McDonnell has announced.
A Labour government has said it will secure the future of post offices across the Wakefield district, shadow chancellor John McDonnell has announced.

The future of 21 post offices across the Wakefield district would be secured under a Labour government, the shadow chancellor has said.

They are included on a list of thousands across the UK which the opposition party plans to protect and turn into branches of a publicly-owned high street bank.

John McDonnell, the shadow chancellor, has announced a list of around 3,600 post offices which would become “Post Banks” under a Labour government – giving it the largest branch network of any UK bank.

Among them are 21 branches in Wakefield.

The party says that the publicly-owned bank would ensure that every community has easy access to face-to-face, trusted and affordable banking.

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It would stem the tide of post office closures, unite important banking, business and community services under one roof and create skilled jobs, Labour said.

Research from the consumer magazine Which? last year showed that the UK lost nearly two-thirds of its bank and building society branches over 30 years, falling from more than 20,000 in 1988 to 7,600 in 2018.

Mr McDonnell said: “We all love our local post offices, and this plan will protect them by giving them a vital extra role – providing our communities with face-to-face banking.

“This is a plan for defending our high streets. It keeps post offices safe for years to come and brings footfall back into our town centres.

"Plus it provides finance to local small businesses – especially cooperatives, companies that don't hurt the environment, and those that do research and development.

“We’re going to take finance out of the hands of the big banks and the speculators – and into the hands of our regions and communities. That’s how we’ll rebuild Britain for the many, not the few.”

The Labour Party plans to give £2.5bn of initial funding for the Post Bank, to take over services currently offered through Post Office Money and end the existing partnership with Bank of Ireland UK.

As well as offering banking services to individuals, it would provide services to small businesses, Labour said.

The 21 post office branches which would be saved across the Wakefield district are:

Airedale, Castleford, Dewsbury Road, East Moor, Featherstone, Half Acres, Hemsworth, Horbury, Kirkgate, Knottingley, Lake Lock, Normanton, Ossett, Pontefract, Sandal, South Elmsall, South Kirkby, The Square, Townley Road, Wakefield and Willow Park.