Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of using a potential digital pound for its own disbursements and cash management.

No decision has yet been made to issue a digital pound. HM Treasury and the Bank of England continue to explore the feasibility and potential design choices of a digital pound as part of the current design phase. The exploration of a digital pound considers the future of central bank money, meaning that this project supports the Bank of England’s primary objectives on monetary and financial stability.