Despite some high streets banks receiving a jaw-dropping bail out with taxpayers money recently, the banks are not being so generous with their lending. Lending to businesses is essential to keep the economy from spiralling into even deeper recession, so Liberal Democrats have suggested that post offices could be given the power to lend money.

Speaking about the proposal, Cllr Tom Smith-Hughes, Liberal Democrats group leader said: “It is clear that we are now in a recession and all efforts must be concentrated on ensuring we get out of this financial slump as quickly as possible. It is scandalous that banks won’t now lend to good businesses but it is vital that viable enterprises continue to keep going which will help to prevent further job losses. That is not going to be possible if banks continue to hoard up their money and not lend it to sound businesses.

“Difficult times require alternative solutions and so we think that post offices should be given the power to offer lending services to their local communities. The post office is valued and trusted by the public so it is ideally placed to offer financial services.

“Offering additional services would also bring business into the post office itself and could prevent any more post office branches being closed in our area. That can only be a good thing for our communities.”