Much of my contribution may have already been said or alluded to, but this is such an important matter that it bears saying several times, or even more. Across Wales, we have seen a demise in the ability to carry out financial transactions in the traditional manner—that is, through the high-street bank. The closure of banks, along with post offices, has caused great difficulty for people in general, but especially—as Russell George has alluded to—for businesses in rural areas, which now find that they have to travel many miles for their banking needs; and, of course, the elderly, many of whom have restricted mobility and so are greatly affected by the lack of bank branches.

The fact that we have free ATMs is a factor that is very important. I know, anecdotally, that New Tredegar—a small town in the northern Valleys—now has an ATM where the customers have to pay. They have to pay a certain amount for every transaction. We are talking about people who may be on very low incomes, so the percentage that they have to pay for their withdrawals is very prohibitive.

Recommendation 8 in the report makes the point that we are not able to see where there are gaps in the financial services available. We would all agree that it makes sense that there should be a map that pinpoints where there are areas that lack such facilities, and one that is updated on a regular basis. Only then can we begin to explore possible solutions. The Government's response points out that the Post Office is obliged by law to publish an annual report on its network. It is also true that the largest ATM network, LINK, publishes a directory of where its cash facilities are available. It is probably the case that the big four banks also publish data of this kind, as may a number of the smaller high-street banks, all of which would help facilitate the creation of a comprehensive map for banking and cash facilities.

Recommendations 9 and 10 refer to connectivity and the need to enhance understanding and use of online banking. However, there is an inherent problem in online banking, again especially with regard to the elderly. Fraudulent online banking activity continues to show a marked increase, according to figures released by Financial Fraud Action UK. Losses on 'cardholder not present' transactions online and on the telephone reached £63 billion up to, and including, last year.

Recommendation 11 is on the impact of closures of banks and free-for-all ATMs on town centres and communities. We have to accept, however, that banks are closing due to the drop in numbers of customers actually using bank branches, with customers increasingly choosing to use online banking. Of course, this trend is something that banks have been keen to support, as it calls for fewer and fewer premises and fewer staff, without a corresponding fall in their revenue streams. It is an undeniable fact that the loss of banks from towns has exacerbated the demise of town centres as it has a dramatic effect on the footfall in town centres. But it is also true to say that commercial rates, normally set at 48 per cent of rateable value, are also having a negative effect on the ability of high-street traders to keep a presence in town centres.

I note here the Welsh Government's potential involvement with Banc Cambria in order to explore the possibility of establishing a not-for-profit banking infrastructure, and its desire to promote a credit union presence in our town centres to replace, where possible, the former high-street banks. I believe that a not-for-profit, strong commercial banking infrastructure is possibly the only way to combat the decline in financial service accessibility, and thus that of our town centres, but in order to truly replace high-street banks, they must offer the business community the same facilities once provided by commercial banks—in particular, business loans and cash handling facilities.

I think we all ought to remind the former high-street banks that there is a social liability, as has been alluded to before, in that they have made vast profits out of the communities, and they owe that social liability to them, to retain banks wherever possible. Thank you.