Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the Government's timeframe is for bringing forward legislative proposals on protecting access to cash; and whether he has made an assessment of how those potential proposals are planned to interrelate with the existing work of the FCA, his Department and industry to protect access to cash.
The Government recognises that cash remains important to millions of people across the UK and has committed to protecting access to cash for those that need it. The Government published a Call for Evidence on 15 October 2020 seeking views on the key considerations associated with cash access, including deposit and withdrawal facilities, cash acceptance, and regulatory oversight of the cash system. The Call for Evidence closed on the 25 November 2020. The Government is considering responses and will set out next steps in due course.
The FCA and PSR have also been leading a programme of work with industry, including engaging with consumer groups, to reach agreement on sustainable long-term solutions for cash access. HM Treasury has been closely involved in this work; the findings from which are being used to inform the Government’s approach on cash.