Central Bank Digital Currencies

Treasury written question – answered at on 8 May 2024.

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Photo of Lisa Cameron Lisa Cameron Conservative, East Kilbride, Strathaven and Lesmahagow

To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the fiscal impact of a potential digital pound by way of increased seigniorage revenue.

Photo of Lisa Cameron Lisa Cameron Conservative, East Kilbride, Strathaven and Lesmahagow

To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of using a potential digital pound for its own disbursements and cash management.

Photo of Bim Afolami Bim Afolami The Economic Secretary to the Treasury

No decision has yet been made to issue a digital pound. HM Treasury and the Bank of England continue to explore the feasibility and potential design choices of a digital pound as part of the current design phase. The exploration of a digital pound considers the future of central bank money, meaning that this project supports the Bank of England’s primary objectives on monetary and financial stability.

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