New Clause 17 - Reporting requirements

Part of Financial Services and Markets Bill – in the House of Commons at 2:30 pm on 7 December 2022.

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Photo of Andrew Griffith Andrew Griffith The Economic Secretary to the Treasury 2:30, 7 December 2022

I agree with the hon. Lady’s point that it becomes a pressing issue. The justification, having successfully transacted in cash since the first Roman emperor decided to dispense pieces of metallurgic value with his head on them, is precisely that we see the transition and we want to get it right, in the interests of the vulnerable. The Bill also contains powers to regulate the wholesale distribution of cash—those people who trunk cash up and down cash centres across the United Kingdom.