Call for action to help towns hit by bank closures

Published 21st Aug 2019

A new report warns of the damage being done to high streets across Scotland with an average of nine banks and shops pulling down their shutters every month.

The Federation of Small Businesses (FSB) is calling for an annual fund of £90m to help fill empty buildings in town centres.

Lochgelly in Fife is among the areas been left without any banks at all as a result of the closures.

It is also estimated around 30 cash machines in Scotland close each month.

According to figures published in the FSB report, 414 stores have closed across the country between 2016 and 2019.

The findings suggest that since 2014, 10.9% of town centre properties have been vacant across the country.

Andrew McRae, FSB's Scotland policy chairman, said there must be action from the Scottish and UK Governments, as well as from big banks, to help support those living in towns.

"More people in Scotland live in towns than cities,'' he said.

"That's why governments in Edinburgh and London must make a generational investment in our towns to overcome their current challenges and prepare them for how we'll work and live in the future.

"Following FSB campaigning, last year the Scottish Government announced extra funding to boost Scottish towns.

"We need to build on this initiative because inclusive growth can't only be a priority for city dwellers.''