To ask the Chancellor of the Exchequer, what progress he is making on ensuring people have access to cash throughout the UK; and if he will make a statement. (2349)
Tabled on: 17 May 2021
The Government recognises that cash is important to the daily lives of millions of people across the UK, and has committed to legislating to protect access to cash for those who need it and ensuring that the UK’s cash infrastructure is sustainable for the long term.
Last year, the Treasury published a Call for Evidence, which sought views on the key considerations associated with cash access, including deposit and withdrawal facilities, cash acceptance, and regulatory oversight of the cash system. The Government has recently announced that it will consult this Summer on legislative proposals for protecting cash for the long term.
The Government has also made legislative changes to support the widespread offering of cashback without a purchase by shops and other businesses as part of the Financial Services Act 2021. These changes will come into effect in late June of this year. The Government’s view is that cashback without a purchase has the potential to be a valuable facility to cash users, and to play an important role in the UK’s cash infrastructure.
The answer was submitted on 20 May 2021 at 10:36.