Post bank launch

18.03.09

Billy Hayes yesterday outlined the concept behind the Post Bank campaign on BBC Radio 4’s flagship news programme, Today.

Billy Hayes, General Secretary, Communication Workers’ Union, told the Today Programme, “I think the Post Bank is a great idea; the amazing thing is the coalition that we’ve got.”

Billy outlined the benefits for both rural and urban areas and emphasised the importance of banking for the 3 million people who currently do not have a current account. “Many of these people are at the mercy of loan sharks,” Billy explained.

Asked if the Government is preparing to take up the idea, he said, “I don’t know if the Government’s gone that far yet, but this is an idea whose time has come. There is high interest in this launch from all parties.

“This Post Bank will have a real impact on the economy for small businesses that will be able to bank in their local communities. One thing about the Post Bank is that it won’t have any toxic debts that are currently infesting the whole of the banking world.”