Financial Exclusion

Debate between Lord Marlesford and Lord Bates

Wednesday 4th July 2018 Lords Chamber

[Lord Bates]

That reason, among others, is why the Government announced in March a review of and consultation on cash and digital payments in the new economy. That is precisely the type of question that is being looked at now as part of that consultation, to which we will bring forward a response in the autumn.

[Lord Marlesford (Con)]

My Lords, are those who retail goods and services legally obliged to accept cash?

[Lord Bates]

I am pretty sure that the answer is yes. There is a piece of legislation: the Bill of Exchange Act 1882, or something like that. I will probably have to write to the noble Lord. If it is not that Act, another serious piece of legislation is the Equality Act 2010, which carries certain mandates that need to be there to provide access for the wider community to ensure financial inclusion, particularly for the most vulnerable.