SHOCKING statistics have revealed the decline of banking services on high streets in Barrow and Furness.

New analysis performed by the Labour Party has found that 50% of banks have closed in Barrow and Furness since 2015 - with only eight remaining.

This week, Labour pledged to stop the decline of the British high street and to bring much-needed banking services back to communities.

The party has promised to accelerate the rollout of ‘banking hubs’ which will help people deposit and take out cash as well as get financial advice and help with banking services.

Labour will work with banks and, where necessary, bring in new powers for the FCA to stop people being left in ‘banking deserts’ guaranteeing communities access to face-to-face banking services.

The party says its plans have come about after half of bank branches in the UK have closed since the Conservatives won a majority in 2015.

Michelle Scrogham, Labour’s MP Candidate for Barrow and Furness said: "I welcome today’s announcement which clearly sets our plan for banking hubs, ensuring local people and businesses across Barrow and Furness have access to the services they deserve.

"The loss of many high street banks across our town has been a huge blow on our communities. For too long, the Conservatives have failed to act as bank branches have closed and our high streets have been neglected.

"By fixing business rates and providing a long-term local vision for our town, Labour will ensure towns like Barrow and Furness can thrive once again."

Conservative MP for Barrow and Furness, Simon Fell, said: "I’m slightly confused by Labour’s position on this issue - the Shadow Chancellor has ‘unveiled’ a policy yesterday to create banking hubs around the country - something which the Government announced earlier this year, with the first hubs already rolled out.

"There seems to be nothing new at all here, other than once again the Shadow Chancellor copying and pasting someone else’s work and passing it off as her own.

"While the Labour Party copies other people’s homework, I have been working hard to ensure that essential banking services are available to people locally.

"Having argued for one for almost a decade, Ulverston is shortly to get a new banking hub meaning that local people will have access to banking from 9-5, 6 days a week.

"I also recently opened a new hub in Barrow for Barclays. This is an issue I care deeply about because I know how much it matters to elderly and vulnerable people in Furness and I will keep fighting for our community on it."