Joint Authorities Cash Strategy Group

Treasury written question – answered on 10th March 2020.

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Photo of Paul Maynard Paul Maynard Conservative, Blackpool North and Cleveleys

To ask the Chancellor of the Exchequer, when the Joint Authorities Cash Strategy Group met in the last 12 months; and if he will publish the minutes of those meetings.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Treasury Ministers and officials meet with a wide range of stakeholders as part of ongoing policy development and implementation.

The Government recognises that widespread free access to cash is extremely important to the day-to-day lives of many consumers and businesses. The published summary of responses to the Call for Evidence on Cash and Digital Payments, in 2019, set out the Government’s policy to support digital payments while safeguarding access to cash for those who need it.

To support this, the Government launched the Joint Authorities Cash Strategy (JACS) Group – which brings together HM Treasury, the Payment Systems Regulator, Financial Conduct Authority and Bank of England – to ensure comprehensive regulatory oversight of the end-to-end cash infrastructure.

The Terms of Reference for the JACS Group were published in June 2019. The Group has met in May 2019, July 2019, and February 2020. The JACS Group will publish a public update on its activities in due course.

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