Closures of banks ‘devastating’ business

Bank closures are having a “devastating” impact on local business, retailers have told MSPS.

Pete Cheema of the Scottish Grocer’s Federation warned Holyrood’s economy committee further closures could hamper the Scottish economy.

He called for politicians to take action to ensure the last bank in any town cannot close.

He said: “The current situation is having an absolutely devastating effect on local businesses.

“They are having to travel, in most cases, about an hour back and forth.”

He said as well as extra time, this causes security and insurance issues.

“It’s taking the basic fundamental rights of a business to do banking away from them,” he added.

“It’s going to cause the Scottish economy big issues if we are not careful.”