Cash Machines

Baroness Kennedy of Cradley Excerpts

Tuesday 4th February 2020 Lords Chamber

[The Earl of Courtown]

My Lords, I understand the concerns my noble friend has expressed. At the moment there are 45,000 free-to-use ATMs, which represent 75% of ATMs. This is 13% higher than it was a decade ago, although I am aware there has been a fall during that period. I will draw his comments on business rates to the attention of my colleagues in the department.

[Baroness Kennedy of Cradley (Lab)]

My Lords, the decline in access to free cash machines, especially in poorer and rural areas, is a significant problem, but in one report I read, a consumer said, “There’s no point in having cash if you can’t use it in the shops.” Will the Government work with our financial institutions and the regulator to address the rising costs of handling and banking cash that lead local retailers to go cashless and work to keep a cash infrastructure for the millions of people who will be left behind without one?

[The Earl of Courtown]

My Lords, the noble Baroness brings up access to cash. As she will be aware, there was an independent review chaired by Natalie Ceeney, which was a valued contribution to the debate. Her Majesty’s Government are considering its recommendations. The review also highlighted that it is not just about ATMs, as the noble Baroness said, but about access to cash. Her Majesty’s Government support further industry collaboration to promote alternatives such as cashback and cash collection and delivery services.