Written question asked by Baroness May of Maidenhead (Conservative) on Tuesday, 31 March 1998, in the House of Commons. It was due for an answer on Tuesday, 7 April 1998. It was answered by Baroness Liddell of Coatdyke (Labour) on Tuesday, 7 April 1998 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if he will comment on the Government's policy on the creation of electronic cash, and on the criteria for bodies to be allowed to operate electronic cash systems. - (Holding answer 6 April 1998).

Answer: Mrs. May: To ask the Chancellor of the Exchequer if he will make a statement on the Government's policy on the creation of electronic cash, and on the criteria for bodies to be allowed to operate electronic cash systems. [37765] Mrs. Liddell: [holding answer 6 April 1998]: The Government see electronic cash having enormous potential in a wide range of areas. But as that potential is still underdeveloped and the technologies involved are undergoing continuous change, it would be premature to lay down criteria now for the sorts of bodies who are likely to participate in this market.

Secondary information