Source · Select Committees · Treasury Committee
6th Report - Acceptance of cash
Treasury Committee
HC 324
Published 30 April 2025
Recommendations
120
Rejected
Broaden Financial Inclusion Committee remit and regularly publish evidence on equitable cash access.
Recommendation
HM Treasury must broaden the terms of reference of the Financial Inclusion Committee on “digital inclusion and access to banking services” explicitly to address the risk that a two-tier economy will lock the digitally excluded out of the economy. HM …
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Government Response Summary
The government states that the existing remit of the access to banking sub-committee already focuses on digital inclusion and that it already continuously reviews relevant data, therefore it does not believe there is a need to broaden terms or implement a new five-year public judgment cycle.
HM Treasury
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Conclusions (1)
122
Conclusion
Rejected
There may come a time in the future where it becomes necessary for HM Treasury to mandate cash acceptance if appropriate safeguards have not been implemented for those who need physical cash, and the level of cash acceptance begins to lead to widespread detriment. To ensure that HM Treasury has …
Government Response Summary
The government agreed to continually monitor cash acceptance levels through existing data sources but rejected the call for annual reporting to the Treasury Committee, believing current ongoing data collection provides sufficient information.