Closure of ‘Cheltenham and Gloucester’ is not just a national issue, it has serious local consequences

Neil Carmichael looks at the problems the closure of the latest victim of the recession poses for Stroud – and what can be done.

The closure of Cheltenham and Gloucester branches is a great loss, not only for the over 1600 who were employed in the branches, but also for people who depended on them for financial advice.

Cheltenham and Gloucester was founded locally in 1850, and since that time have established over 100 branches nationally, and provided quality financial assistance - helping many members of the public manage their money.

Neil Carmichael, Parliamentary Candidate for Stroud, commented, “Amongst those hardest hit will be those who require financial help as first time home buyers. The branches in our area will be missed as a source of employment, but also as a source of advice.”

Under the Labour government, over the last decade, the economy has weakened to the point where we are currently in the most unstable economic position in living memory. The closure of Cheltenham and Gloucester will result in people finding it increasingly difficult to manage their financial affairs.