Retailers: Cash
Debate between Lord Harlech and Baroness Bryan of Partick
Lord Harlech (Con)
Following the Government’s commitment to legislate, industry is working together to develop new initiatives to provide shared access to cash services. This includes a process for LINK to access a community’s cash needs in the event of a closure of a core cash service or a request from a local community. In circumstances where LINK considers that a community requires additional cash services, industry will ensure a suitable shared solution in that community.
Baroness Bryan of Partick (Lab)
My Lords, the Cash Census report published earlier this year warned:
“While a cashless society would feel like progress for some … for millions it would lead to anxiety, economic exclusion, isolation, exploitation, debt”
and “rising costs”. Does the Minister accept that cash is still the major means of spending for a substantial proportion of our society, and that retailers should be required to accept legal currency?
Lord Harlech (Con)
The definition of “legal tender” is quite narrow. However, the ongoing trend in payments in the UK has been away from cash and towards card payments and other digital transactions. However, cash continues to be used by millions of people across the UK, including those in vulnerable groups. The Government are legislating to ensure reasonable provision of cash withdrawal and deposit facilities.