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Conclusion
6th Report - Acceptance of cash
Acknowledged
We note that this debate is being conducted in other countries, and more interventionist approaches are being considered than is currently acceptable to the UK’s Government. We note with interest the range of approaches to cash in these similar countries, including the approach taken by the European Union and Australia …
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We note that this debate is being conducted in other countries, and more interventionist approaches are being considered than is currently acceptable to the UK’s Government. We note with interest the range of approaches to cash in these similar countries, including the approach taken by the European Union and Australia which explicitly sets cash acceptance as inextricably linked to cash access. Other countries have focused on providing digital solutions to some of the issues posed by the decline in cash usage and acceptance, such as Singapore’s MyMoneySense platform and state-backed payment systems such as UPI in India and PIX in Brazil, which lower costs for merchants. (Conclusion)
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Government response AI summary
The government agrees on the importance of monitoring international approaches to cash access and states it already continually monitors global payment trends and will continue to assess developments in other countries to inform future policy.
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HM Treasury
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Conclusion
6th Report - Acceptance of cash
Acknowledged
In its interim assessment of the current cash access regulation (see Conclusions and recommendations for the UK), HM Treasury must include an assessment of how the problem of declining cash access is being tackled internationally. This must include an assessment of elements of, or all of, these approaches would work …
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In its interim assessment of the current cash access regulation (see Conclusions and recommendations for the UK), HM Treasury must include an assessment of how the problem of declining cash access is being tackled internationally. This must include an assessment of elements of, or all of, these approaches would work in the UK. (Recommendation) 49
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Government response AI summary
The government agreed on the importance of monitoring international approaches to cash access and stated it will continue to keep relevant international data under review to inform future policy. However, it did not explicitly commit to including this assessment in its interim review of cash …
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HM Treasury