Access to Cash

Baroness Tonge Excerpts

Wednesday 3rd April 2019 Lords Chamber

[Lord Bates]

We are still studying the report, which came out fairly recently and contains a lot of data and material. The Link network went to countries such as Sweden, where the proportion of transactions in cash is now only 10%, and asked what could be learned from that situation, which is where we are going to be in five to 10 years’ time, to ensure that people in this country have protection and choice available to them.

[Baroness Tonge (Non-Afl)]

My Lords, as the more affluent members of our society no longer carry cash, will the Government consider giving bank accounts and card readers to the destitute and homeless on our streets?

[Lord Bates]

I do not want to make any value judgments about people carrying cash. Cash continues to be carried by the vast majority of the population—I think the report mentions a figure of about 95%. One of the things we have advanced is fee-free banking, which revolutionised the approach for many people in precisely the situations the noble Baroness refers to.