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Central Bank Digital Currencies

Question for Treasury

UIN 24058, tabled on 29 April 2024

To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the fiscal impact of a potential digital pound by way of increased seigniorage revenue.

Answered on

8 May 2024

No decision has yet been made to issue a digital pound. HM Treasury and the Bank of England continue to explore the feasibility and potential design choices of a digital pound as part of the current design phase. The exploration of a digital pound considers the future of central bank money, meaning that this project supports the Bank of England’s primary objectives on monetary and financial stability.

Answered by

Treasury
Interests declared
The Member has declared that they have interests which may be relevant to the subject matter of this question.