Money

Treasury written question – answered on 22nd June 2021.

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Photo of Dean Russell Dean Russell Chair, Speaker's Advisory Committee on Works of Art

To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that cash continues to be accepted at businesses throughout the UK.

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

The Government recognises that the ability to transact in cash remains important to millions of people across the UK and has committed to legislating to protect access to cash.

The Government 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. Furthermore, the Government has announced that it will consult this summer on further legislative proposals for protecting cash for the long term.

However, firms should continue to be able to make decisions over which payments methods they offer their customers on a commercial basis, including cash, cards, and digital payments.

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