Reclaim the high street

Recorded at the Battle of Ideas festival 2024 on Sunday 20 October at Church House, Westminster.

ORIGINAL INTRODUCTION

When Lloyds Banking Group recently revealed it will close 190 branches from October and 47 next year – following on from similar announcements by NatWest Group and Barclays – it was heralded by some commentators as yet more evidence of the long-term decline of once-vibrant town centres. Research suggests 33 parliamentary constituencies could be left without a local bank branch by the end of 2024.

The bank closures come on top of the widespread closure of local post offices. We are left with images of boarded-up shops, myriad charity pop-ups and precincts than bustling centres full of communal spirit and thriving businesses. The decay of town centres and high streets is considered by many to explain an increasingly profound disconnect from people and place, a growing feeling that many towns are neglected, left behind, hostile to forging social ties. Some have even suggested that the riots are proof that residents no longer respect their local areas.

The demise of the high street means fewer and fewer physical spots where, during the mundane daily tasks we all must do, there is the potential for chance meetings and physical interaction to happen. Older people, who often rely on bank and postal services and the interactions involved in using them, are often the first to notice. But both older and younger people – the latter, in particular, still feeling the effects of the pandemic – are also noticing the demise of places to socialise. The traditional pub, where different generations often mix together, is in long-term decline, while nightclubs and cafés have also suffered. For example, one group estimates that over 3,000 pubs, bars and nightclubs have shut down since March 2020. Over time, the fabric of local communities can be eroded and all generations impacted.

So, should the government intervene and regulate so that some physical services are required to remain on the high streets? The Financial Conduct Authority (FCA), for example, recently proposed new rules ‘to maintain reasonable access’ to cash and deposit facilities, and committed to working with the banks to roll out 350 banking hubs over the next five years.

What is to be done? Can measures that involve local communities be put in place to stop the rise of boarded-up high streets and help them reinvigorate their own streets and locales?

SPEAKERS
Sam Bidwell
director, Next Generation Centre, Adam Smith Insitute

Neil Davenport
cultural critic; head of faculty of social sciences, JFS Sixth Form Centre

Paul Finch OBE
programme director, World Architecture Festival

Lord Moylan
Conservative peer; chair, Lords Built Environment Select Committee

Deb Nagan
director, Deb Nagan Studio

CHAIR
Niall Crowley
designer; writer; former East End pub landlord; co-producer and co-editor, Arts First podcast