Labour’s plans to save Post Office in Gainsborough

They are included on a list of thousands across the UK, including ones in Caistor, Saxilby and Welton, which the opposition party plans to protect and turn into branches of a publicly-owned high street bank.

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The office Labour plans to secure is the one on Heaton Street.

John McDonnell, the shadow chancellor, has announced a list of around 3,600 post offices which would become “Post Banks” under a Labour government – giving it the largest branch network of any UK bank.

The party says that the publicly-owned bank would ensure that every community has easy access to face-to-face, trusted and affordable banking.

Mr McDonnell said: “We all love our local post offices, and this plan will protect them by giving them a vital extra role – providing our communities with face-to-face banking.

“This is a plan for defending our high streets. It keeps post offices safe for years to come and brings footfall back into our town centres.

“Plus it provides finance to local small businesses – especially cooperatives, companies that don’t hurt the environment, and those that do research and development.

“We’re going to take finance out of the hands of the big banks and the speculators – and into the hands of our regions and communities. That’s how we’ll rebuild Britain for the many, not the few.”

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The Labour Party plans to give £2.5bn of initial funding for the Post Bank, to take over services currently offered through Post Office Money and end the existing partnership with Bank of Ireland UK.

As well as offering banking services to individuals, it would provide services to small businesses, Labour said.

A Post Office spokesperson said: “We will of course continue to review these proposals with interest.

“The Post Office network is at its most stable for decades, and we committed to maintaining and growing our branch network, as well as supporting the postmasters who deliver vital services to communities.”