Source · Select Committees · Treasury Committee
Recommendation 124
124
Acknowledged
Assess international approaches to declining cash access in the UK's interim regulation review.
Conclusion
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
Government Response 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 access regulation.
Government Response
Acknowledged
HM Government
Acknowledged
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.