Labour pledges to open 'at least' 350 banking hubs over next Parliament

The Labour Party claims it will ‘bring banking back to the high street’ if it forms the next government after the 2024 general election.

A Post Office banking hub in Rochford, Essex, England (Photo by John Keeble/Getty Images)
Labour says it will open 'at least' 350 banking hubs, if it gets elected (Photo by John Keeble/Getty Images)
(Image credit: (Photo by John Keeble/Getty Images))

The Labour Party has pledged to open 350 banking hubs during the next Parliament, if it wins the 2024 general election.

Sir Keir Starmer’s party, which launched its manifesto last week, claimed it would “bring banking back to the high street” should it form the next government. It would do so by giving the Financial Conduct Authority (FCA) new powers, and by reforming the criteria for where hubs can be created. It comes as Labour has sought to paint itself as the party of business.

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Henry Sandercock has spent more than eight years as a journalist covering a wide variety of beats. Having studied for an MA in journalism at the University of Kent, he started his career in the garden of England as a reporter for local TV channel KMTV.

Henry then worked at the BBC for three years as a radio producer - mostly on BBC Radio 2 with Jeremy Vine, but also on major BBC Radio 4 programmes like The World at One, PM and Broadcasting House. Switching to print media, he covered fresh foods for respected magazine The Grocer for two years.

After moving to NationalWorld.com - a national news site run by the publisher of The Scotsman and Yorkshire Post - Henry began reporting on the cost of living crisis, becoming the title’s money editor in early 2023. He covered everything from the energy crisis to scams, and inflation. He also has bylines in MoneyWeek.