Barclays's withdrawal from the banking framework with Post Office Ltd

That this House expresses alarm on learning that Barclays bank has decided to withdraw from a key element of the banking framework agreement with Post Office Ltd, which allows personal and business customers to access their bank accounts via 11,500 post office locations across the UK; notes that the banking framework is a central component of the Government's financial inclusion policy having been developed by Liberal Democrat Ministers during the coalition and is critical to many vulnerable customers and small businesses; understands that Barclays's customers currently undertake around 1.4 million cash withdrawals in post offices every month, while Barclays has closed more than 400 bank branches in the last five years; is deeply concerned about the detrimental effect that this withdrawal will have on individuals, business and communities across the UK; recognises with concern that the withdrawal will also reduce footfall and revenue for post offices, potentially undermining the network modernisation programme; welcomes the decision by all other banks to reconfirm their commitment to their customers irrespective of their location and circumstances through this agreement with Post Office Ltd, which further brings into question Barclays's decision; calls on Barclays bank to reverse its decision immediately and on the Government to intervene if Barclays does not do so; and further calls on the Government to introduce a new regulation to require banks, as part of their retail licence, to make their core banking service accessible to their customers through the post office network and overseen by the Payment Systems Regulator.