To ask the Chancellor of the Exchequer, what steps the Government is taking to help ensure that (a) vulnerable people, (b) the elderly and (c) people living in rural areas continue to have access to cash.
Answered on
19 July 2021
The Government recognises that cash is important to the daily lives of millions of individuals and businesses across the UK, including those who may be in vulnerable groups, elderly or living in rural areas.
Therefore, the Government has committed to protecting access to cash for those who need it and ensuring that the UK's cash infrastructure is sustainable for the long term.
The Government made legislative changes via the Financial Services Act 2021 to support the widespread offering of cashback without a purchase, which will allow shops and other businesses to offer a new form of cash withdrawal service to local communities.
On 1 July, the Government published a consultation on broader legislative proposals to protect access to cash. These proposals seek to ensure that people only need to travel reasonable distances to pay in or take out cash, and that the right regulatory oversight for cash access is in place for the future. The consultation is available at: https://www.gov.uk/government/consultations/access-to-cash-consultation