FIN.

Treasury publishes digital economy responses

Treasury had published a summary of the responses it received to its consultation on cash and digital payments in the new economy, which closed last year.  It received 218 responses. Key themes are:

  • the government should, of course, continue to support digital payments, but cash is still important in the lives of many people;
  • Treasury will set up the Joint Authorities Cash Strategy Group to ensure proper oversight of how cash is used, and that those who need it can have access to it;
  • there are no plans to alter the current make up of coins and notes in circulation; and
  • there will be a separate consultation on the dangers of the use of cash for illicit purposes. Many respondents suggested the imposition of a maximum limit for cash transactions.
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Roseyna Jahangir