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To ask the Chancellor of the Exchequer, what estimate her Department has made of the number and proportion of retail businesses that only accept cash.
To ask the Chancellor of the Exchequer, what estimate her Department has made of the number and proportion of retail businesses that only accept cash.
The Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses.
The Financial Conduct Authority (FCA) assumed regulatory responsibility for access to cash in September 2024. Its rules ensure cash continues to be a viable method of payment for the millions of people who depend on it and help businesses to continue to accept cash by providing reasonable access to cash deposit facilities.
It is for each business to decide on the forms of payment it chooses to accept. This will be based on a variety of factors, including cost and customer preferences. The Government does not hold data on the number and proportion of businesses who only accept cash.
To ask His Majesty's Government what assessment they have made of the impact of shops refusing to accept cash as payment insisting instead on card payment; and whether they plan to take steps to protect access to and the use of cash.
To ask His Majesty's Government what assessment they have made of the impact of shops refusing to accept cash as payment insisting instead on card payment; and whether they plan to take steps to protect access to and the use of cash.
The Government recognises that cash continues to be used by millions of people across the UK to pay for essential goods and services. It is committed to protecting access to cash for individuals and businesses.
The decision to accept or decline a form of payment is a commercial one and, as such, the Government’s position on cash acceptance is that it is primarily a matter for individual businesses. However, the Government recognises the importance of cash as a means of payment for essential services and to the wider economy, and therefore welcomes the work of the regulators to monitor cash acceptance. For example, research published by the Financial Conduct Authority in 2020 found that 98 per cent of small businesses surveyed would never turn away a customer if they needed to pay in cash.
The Government also recognises it is important that people can withdraw and deposit cash with ease, without which it is more difficult for cash to be used as a means of payment. The Financial Conduct Authority has recently assumed regulatory responsibility for protecting access to cash, and its new rules went live on 18 September. Under these rules, following a request from a local community or the closure of a cash access facility, firms that have been designated by the Government to be subject to the FCA’s regime are required to undertake an assessment of a community’s cash access needs and to put in place a new service if necessary.
Motion that this House has considered e-petitions 605030 and 622284, relating to the acceptance of cash. Agreed to on question.
Motion that this House has considered e-petitions 605030 and 622284, relating to the acceptance of cash. Agreed to on question.
I beg to move,
That this House has considered e-petitions 605030 and 622284, relating to the acceptance of cash.
It is genuinely a pleasure to serve under your chairmanship, Ms Bardell. The petitions before us attracted more than 58,500 signatures between them, having closed on 5 July 2022 and 10 March this...
I beg to move,
That this House has considered e-petitions 605030 and 622284, relating to the acceptance of cash.
It is genuinely a pleasure to serve under your chairmanship, Ms Bardell. The petitions before us attracted more than 58,500 signatures between them, having closed on 5 July 2022 and 10 March this...
In response to the Petitions Committee’s online survey, 61% of respondents said that they use cash to help with budgeting and, in the light of the cost of living crisis, by way of tracking their spending. Does my hon. Friend agree that the UK Government must recognise and protect cash...
In response to the Petitions Committee’s online survey, 61% of respondents said that they use cash to help with budgeting and, in the light of the cost of living crisis, by way of tracking their spending. Does my hon. Friend agree that the UK Government must recognise and protect cash...
My hon. Friend makes a good point. Indeed, I emphasise that it is essential not only for many people who budget, but for those on lower incomes, the elderly and those with disabilities, who need that facility the most.
My hon. Friend makes a good point. Indeed, I emphasise that it is essential not only for many people who budget, but for those on lower incomes, the elderly and those with disabilities, who need that facility the most.
As my hon. Friend mentioned, freedom of choice is imperative. Currently, we need cash and card. We need to make everyone comfortable with the direction of travel. Does he agree that an education programme is required akin to the one we had back in the day when we introduced decimalisation?...
As my hon. Friend mentioned, freedom of choice is imperative. Currently, we need cash and card. We need to make everyone comfortable with the direction of travel. Does he agree that an education programme is required akin to the one we had back in the day when we introduced decimalisation?...
I am grateful to my hon. Friend. I am perhaps giving my age away, but I came in with decimalisation. I recall the ready reckoners that my elderly relatives had for me to play with as a toy many years ago. An education programme would be helpful. In 20 to...
I am grateful to my hon. Friend. I am perhaps giving my age away, but I came in with decimalisation. I recall the ready reckoners that my elderly relatives had for me to play with as a toy many years ago. An education programme would be helpful. In 20 to...
Just in case the hon. Member for Inverclyde (Ronnie Cowan) was referring to those of us with more experience, I should say there was a time in 1971, when I was selling coin-operated tea and coffee machines, when someone wrote in saying, “The elderly will find the new coins difficult....
Just in case the hon. Member for Inverclyde (Ronnie Cowan) was referring to those of us with more experience, I should say there was a time in 1971, when I was selling coin-operated tea and coffee machines, when someone wrote in saying, “The elderly will find the new coins difficult....
The Father of the House makes a valid point, and one that I shall echo a number of times as I make progress through my speech—if there are no other interventions.
Zachary Stiling, creator of the more recent petition, told me:
“We must protect the individual’s right to use cash in all...
The Father of the House makes a valid point, and one that I shall echo a number of times as I make progress through my speech—if there are no other interventions.
Zachary Stiling, creator of the more recent petition, told me:
“We must protect the individual’s right to use cash in all...
Last year, I was at a coffee outlet in London City airport that only took cards. A constituent asked me to take up the issue, which I did. A few weeks later, it introduced a process for cash and card. Three months later, the constituent sent me a photograph of...
Last year, I was at a coffee outlet in London City airport that only took cards. A constituent asked me to take up the issue, which I did. A few weeks later, it introduced a process for cash and card. Three months later, the constituent sent me a photograph of...
The hon. Member makes a very good point on which I wholeheartedly agree. As I said, 6% of adults use cash payment for almost everything. That figure increases to 9% of those in the most vulnerable circumstances. I shall return later to the impact of cash refusal on the most...
The hon. Member makes a very good point on which I wholeheartedly agree. As I said, 6% of adults use cash payment for almost everything. That figure increases to 9% of those in the most vulnerable circumstances. I shall return later to the impact of cash refusal on the most...
Figures show that 70% of people prefer to use cash because they are concerned about the privacy of alternative forms of payments, and 49% said they used cash because of concerns about fraud. Does my hon. Friend understand the worries that a move to a cashless society could militate against...
Figures show that 70% of people prefer to use cash because they are concerned about the privacy of alternative forms of payments, and 49% said they used cash because of concerns about fraud. Does my hon. Friend understand the worries that a move to a cashless society could militate against...
I agree entirely with my hon. Friend’s good points. It appears to be something that concerns very many people. Research from Which? has shown that 82% of Scottish consumers are likely to keep cash in case electronic payments are down.
I agree entirely with my hon. Friend’s good points. It appears to be something that concerns very many people. Research from Which? has shown that 82% of Scottish consumers are likely to keep cash in case electronic payments are down.
My hon. Friend is making a powerful case about the importance of having the choice to use cash. Does he
agree that access to cash is fundamental to this debate? In order for people to have the choice to use cash, access to it is at the basis of all...
My hon. Friend is making a powerful case about the importance of having the choice to use cash. Does he
agree that access to cash is fundamental to this debate? In order for people to have the choice to use cash, access to it is at the basis of all...
Absolutely, and I will come to that later in my speech. I hope the Minister takes cognisance of that well-made point.
There are also those who have valid privacy concerns about electronic payments. In an age of technology, algorithms, digital footprints and cyber-crimes, it is understandable that some—perhaps many—of our constituents...
Absolutely, and I will come to that later in my speech. I hope the Minister takes cognisance of that well-made point.
There are also those who have valid privacy concerns about electronic payments. In an age of technology, algorithms, digital footprints and cyber-crimes, it is understandable that some—perhaps many—of our constituents...
The hon. Gentleman is talking about banks closing; the bank on my high street is still open but will not give cash and directs people to the post office. Does he agree that it is appalling that we have banks on our high streets that are not providing the services...
The hon. Gentleman is talking about banks closing; the bank on my high street is still open but will not give cash and directs people to the post office. Does he agree that it is appalling that we have banks on our high streets that are not providing the services...
Absolutely; the hon. Gentleman makes a good point, for which I thank him. I am flabbergasted that a bank is not dealing with cash—it beggars belief.
The issues raised need to be addressed, but protecting access to cash is not the same as protecting the right to use cash—a right that,...
Absolutely; the hon. Gentleman makes a good point, for which I thank him. I am flabbergasted that a bank is not dealing with cash—it beggars belief.
The issues raised need to be addressed, but protecting access to cash is not the same as protecting the right to use cash—a right that,...
My hon. Friend is generous to give way again. It has been reported that about 10% of people have been unable to pay for medical supplies with cash. We know that older people and those with some physical and mental health problems prefer using cash. Is my hon. Friend concerned...
My hon. Friend is generous to give way again. It has been reported that about 10% of people have been unable to pay for medical supplies with cash. We know that older people and those with some physical and mental health problems prefer using cash. Is my hon. Friend concerned...
That is a valid concern that I hope the Minister will address when he responds to the debate.
Some 8% of respondents to the Petitions Committee survey said that they had a physical or mental health issue that made using alternatives to cash difficult. The issues included bipolar disorder, anxiety disorder,...
That is a valid concern that I hope the Minister will address when he responds to the debate.
Some 8% of respondents to the Petitions Committee survey said that they had a physical or mental health issue that made using alternatives to cash difficult. The issues included bipolar disorder, anxiety disorder,...