SOUTH Lakes MP Tim Farron said the government should introduce a tax on money banks make from closing branches to support small businesses on the high street.

It came after the closure of the last bank in Grange was announced earlier this month. Speaking during Business, Energy and Industrial Strategy Questions, Tim said: “Small businesses and our high streets are hugely damaged by the closure of bank branches right across the country, which nets the banks, which we bailed out with taxpayers’ money, a vast amount of money in savings.

“Will the Minister consider a windfall tax on the banks to ensure that we redistribute some of that money back into our high streets to support small businesses?”In response, business minister Kelly Tolhurst said: “It is absolutely right that, when banks are pulling out of our high streets, the post offices that are delivering the services are remunerated correctly for that.”