The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.

From 1 July to 23 September last year, the Government held the Access to Cash Consultation on proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. The Government’s proposals intend to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities.

The Government received responses to the consultation from a broad range of respondents, including individuals, businesses, and charities. The Government has carefully considered responses to the consultation and will set out next steps in due course.

UK Businesses, including those within the cash in transit industry, may be eligible to access the business support packages launched by the Government during the coronavirus outbreak. This includes Business Interruption Loans, and potentially the discretionary grant fund administered by local authorities.

Our network of 38 growth hubs also provide tailored support free of charge to firms based in England, covering sources of business finance, as well as training and networking opportunities. Firms in the devolved administrations will be able to access similar services.

All business support and advice is listed on the GOV.UK website.

Secure collection and delivery of money, receipts and other valuable items is an activity undertaken by private security firms alongside many other activities rather than being a specific industry itself. These include security guard services, installation of security equipment, security consultancy and investigation activities. Therefore, we are unable to allocate value and employment to this particular activity. Private security and investigation activities as a whole contributed £3.3bn in Gross Vale Added to the UK economy in 2019 and accounted for nearly 230,000 jobs.

The Government recognises that widespread access to cash is extremely important to the daily lives of millions of people across the UK. The Government is engaging with the financial regulators, including through the Joint Authorities Cash Strategy Group, to monitor the impact of COVID-19 on the UK’s cash infrastructure and remains committed to protecting access to cash for those who need it, while supporting digital payments.

At the March 2020 Budget, the Chancellor announced that Government will bring forward legislation to protect access to cash and ensure that the UK’s cash infrastructure is sustainable in the long-term. The Government is engaging with regulators and industry while designing legislation, ensuring that the approach reflects the needs of cash users across the economy.