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Government Must Act as Poll Reveals 74% Back Post Bank

24th March 2009

One week on from the launch of the Post Bank campaign a new poll reveals overwhelming public support. The Post Bank coalition today (Tuesday) calls on the Government to move from 'interest' to action, and wholeheartedly back proposals for a new, permanent, publicly-owned Post Bank based on the post office network.
A new poll published today by Politicshome shows huge public support for a Post Bank based on the Post Office, which would offer a range of financial services as an alternative to the commercial banks:
· Seventy four per cent of voters back the idea of a People's Bank.
· Just fifteen per cent of voters don't like the sound of it.
The poll shows consensus across voters of all political persuasions. The Post Bank has the backing of a large majority of voters who identify themselves as Labour supporters (80-per cent). It gets even stronger backing from voters who identify with the Lib Dems and the Nationalists (84 and 91 per cent respectively). A very solid majority of Conservative voters also like the idea with more than two thirds of them saying yes to a People's Bank (69 per cent).
Billy Hayes, CWU general secretary, said: "This is an idea whose time has come. The Post Bank provides solutions for people who are disillusioned with traditional banking as well as a sustainable future for the Post Office. This poll clearly shows the popularity and demand across the political board for a People's Post Bank."
An expert panel of politicians and opinion formers were also asked about the idea:
· More than three quarters (seventy eight per cent) of the politically balanced panel back a People's Bank.
· Less than a fifth (nineteen per cent) opposed the idea
This latest poll shows there is clear consensus building across the board for the need for a permanent, publicly owned Post Bank run through the post office network, yet to date, government has failed to grasp the vision at the heart of the proposal.
The coalition believes that to play a role in stabilising finance, and reconnecting it with the real economy and local communities, it must be a new, publicly owned bank run for the public good.