Vince Cable

Following the closure of Nationwide in Whitton, Cheltenham and Gloucester are to close their Twickenham branch.

Customers are being directed to Lloyds branches in Twickenham and Teddington. The staff face being laid off though some may be absorbed elsewhere in the bank group (there are seven staff identified).

Vincent Cable said: "the banking crisis has been far more evident in its impact on business customers - who are losing credit and being forced to close - than at branch level. But I would expect to see a big contraction in the branch network and this is going to affect our shopping centres".

"I am still getting several local business people coming to me every week because leading banks like Barclays or Lloyds are cutting off their borrowing facilities or imposing very onerous conditions. All of this is forcing companies to close and increasing unemployment".