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In response to the Treasury Committee's inquiry, Barclays, HSBC and Santander all made a public commitment to continue to provide basic bank holders with unrestricted access to cash machines. In this report, the Treasury Committee makes clear its intent to write to the other providers of basic bank accounts asking for similar clarification and urges RBS and Lloyds TSB to remove their restrictions. Restricting access to cash machines could compromise the network. In certain areas, more than a third of ATMs could be placed at risk if other providers of basic bank accounts were to take similar action or to remove themselves from the LINK system. The Committee understands the need for banks to control costs and that in this instance the financial benefits to Lloyds and RBS appear relatively small. Those affected, though, would be amongst the most vulnerable people in society. In the longer run, both the way services are offered to customers and the charges they pay need reform to secure greater banking competition
About one third of ATMs now make direct charges to consumers, and in 2004 it is estimated that UK consumers paid £140 million in charges made whilst accessing funds through cash machines. The Committee's report examines the principle and increasing trend towards charging, the clarity of presentation of these charges to the consumer, the likely impact on financial exclusion and low-income households, and key areas for action from government, regulators and the industry. Findings include that although there has been an increase in free machines as well as charging machines, their location and the lack of transparency about which machines make charges hinders genuine competition and consumer choice. Recommendations include that there should be a clearer indication of the amount of surcharge on external signage with standardised labelling for all free and charging machines. The LINK network agreement needs to improve consumer representation and its enforcement mechanisms. The trend towards ATM charges should not be allowed to exacerbate existing financial exclusion, and the Government should ensure that the switch to direct payment of benefits does not disadvantage recipients in their access to cash.

Budget 2013

Great Britain: Parliament: House of Commons: Treasury Committee

Published: 2013-04-22

Total Pages: 200


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The Treasury Committee's report on Budget 2013 focuses on: macroeconomy; the public finances; monetary policy; taxation; departmental spending; housing; energy policy; premature disclosure of budget information; Parliamentary timing. The report contains 46 conclusions and recommendations. Particular attention is paid to the Help to Buy housing policy, which is considered a work in progress which may have unintended consequences and may not help first-time buyers. The Committee poses a number of questions for the Chancellor on the policy. Overall, if the Government's priority was housing supply, its housing measures should have concentrated there. On energy it is unclear which Government Department is in the lead for energy policy and this lack of clarity must be addressed. The changes to the monetary policy remit announced by the Chancellor at the time of Budget 2013 create uncertainty. Tax complexity and instability remain of considerable concern. The Committee will monitor whether the Government anti-avoidance measures succeed in generating the revenue predicted of them. In addition, the Committee invited comments from three accounting bodies on how Budget 2013 meets the Committee's tax policy principles: basic fairness; supporting growth and encouraging competition; certainty, including simplicity; stability; practicality; and coherence.
Royal Mail Group : Ninth report of session 2005-06, Vol. 2: Oral and written Evidence
Includes statistical tables and graphs.
Distributed to some depository libraries in microfiche.
Incorporating HC 1534, session 2010-12
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For Vol. 1, Report, see (ISBN 9780215532725)