Digital Pound

Nigel Evans Excerpts

Tuesday 7th February 2023 Commons Chamber

[Andrew Griffith]

I thank the hon. Member for those points; her point about safeguards against coercive control in particular is well made. This is where something like a digital pound can have utility: unlike existing banking relationships, but like cash, it is not subject to the caprices of a particular commercial entity that may apply its own policies. I commend our payment services industry—the UK is blessed with a strong, healthy and competitive banking sector—but for the safeguards that the hon. Member seeks, the digital pound would be additive to the current situation.

[Mr Deputy Speaker (Mr Nigel Evans)]

I thank the Minister for his statement and for responding to hon. Members’ questions.