Source · Select Committees · Treasury Committee
Recommendation 118
118
Deferred
Consider physical cash value in emergency preparedness and severe payment system outages
Conclusion
In discharging its responsibility for national security and resilience, HM Treasury must consider the value of physical cash in emergency preparedness. This may include recommending that cash is held by individuals in case of emergency, and considering what role cash distribution might play in a severe payment systems outage. (Recommendation)
Government Response Summary
The government's response focuses on monitoring international approaches to cash access, usage, and policies to inform future decisions, rather than directly addressing how HM Treasury will consider the value of physical cash in emergency preparedness, individual cash holdings, or cash distribution during system outages.
Government Response
Deferred
HM Government
Deferred
The Government agrees it is important to continually monitor the impact of how cash access is being tackled internationally, recognising it is not alone in experiencing a decline in cash use and that measures used abroad could offer valuable learnings. The UK benefits from strong relationships with countries around the world and will continue to use these relationships to monitor global payments trends. The Government keeps relevant international data under review, using it to monitor trends and inform future policy decisions. It will continue to monitor and assess developments in other countries, including levels of cash usage, cash acceptance and relevant policies. 10