Access to cash

That this House calls on the Government to set out a timeline for introducing legislation to protect access to cash for people who depend on it, as well as publishing its vision for the long-term future of cash in order to support a managed transition towards digital payments; recognises that the UK’s already fragile cash system has been put under unprecedented strain as a result of the covid-19 outbreak, is convinced that the ability to access and spend cash is not only important for the many vulnerable people who rely on it, but will also play a critical role in the recovery of local economies, particularly as lockdown measures are relaxed and high-streets begin to re-open; is concerned that covid-19 and successive national lockdowns has resulted in a wave of ATM and bank branch closures across the country adding to the urgency of ensuring cash-dependent consumers are not cut off from accessing their only payment method; appreciates that the Government has an important role to play in ensuring that regulators and industry work together to develop a solution for the cash system that meets consumers’ needs and responds to changes in consumer behaviour; recognises that the slow rate of progress and lack of clarity around the scope and timings of legislation on this matter is a cause of concern; and accepts that while industry and regulators will undoubtedly play a critical role in designing a framework to guarantee cash access, HM Treasury must urgently provide much-needed vision to support this.