Bank of England plots closure of Leeds distribution centre
Andrew Bailey has been Governor of the Bank of England for a year. He was formerly the head of the Financial Conduct Authority. (Getty Images)
The Bank of England is closing its cash distribution hub in Leeds but plans to open another centre in the North.
The central bank said that the dwindling use of cash, alongside the new polymer notes, would slash demand for distribution.
The bank said its Leeds centre is set to close when the lease expires in 2023 and said it was in discussions with Unite the union over the 34 affected staff.
TODAY the Chancellor, Rishi Sunak, announced that Teesside had been successful for a bid to bring a Freeport to the region. The bid, submitted to Government just a month ago by Tees Valley Mayor Ben Houchen, covers sites across the region, including Teesworks, Wilton International, Teesside International Airport, the Port of Middlesbrough, the Port of Hartlepool, Liberty Steel, LV Shipping and PD Ports. Here s how leaders and politicans reacted to Teesside being named as one of eight areas that will soon have a Freeport. Ben Houchen, Tees Valley Mayor, said: “Future generations will look back on today and say this was the day Teesside, Darlington and Hartlepool was reborn as an industrial powerhouse.