"The overall strategy, if the question is about business rates, is pretty straightforward: we collect about £25 billion in business rates, about 25% of which comes from the retail market and the remaining 75% from offices and industrial premises. At the moment, we are seeing the business rate book, if …..." Lord Bates - View Speech
"My Lords, the Government are committed to safeguarding access to cash while supporting digital payments. Last year, we launched a call for evidence on cash and digital payments in the new economy. We will publish a summary of responses in due course. We will continue to work with regulators and …..." Lord Bates - View Speech
"My Lords, I pay tribute to the work of the mutuals. The noble Lord is right that a situation is emerging where people, particularly the most vulnerable, are seeing access to cash beginning to reduce as a payment option. One in six transactions used to be made in cash; at …..." Lord Bates - View Speech
"That is partly within the role of the Payment Systems Regulator, although not entirely. On the point about cash and Link machines, Link is a network of banks that supervise these things. It has increased the intercharge fee between ATMs so that it can meet its obligation to ensure that …..." Lord Bates - View Speech
"I am aware of that. There is obviously the universal service obligation. This year for the first time telephone banking apps will overtake digital online as the way in which most people access their banking services, so that is another factor. However, I am aware of the concern...." Lord Bates - View Speech
"I am happy to undertake to take that up with the Economic Secretary to the Treasury, who is responsible for retail banking, as well as the Financial Conduct Authority. I know that significant progress has been made on that, and I will write to the noble Lord...." Lord Bates - View Speech
"There are limitations that arise from the changes in the way that people access their financial services and cash. We are seeing contactless overtaking debit cards as a way of payment. These changes are happening, but it is important that the regulator and the Government work together with the industry …..." Lord Bates - View Speech
"I am happy to undertake to do that. At the same time as I write the noble Lord, Lord Low, I will write to the noble Lord, Lord Blunkett...." Lord Bates - View Speech
"We are still studying the report, which came out fairly recently and contains a lot of data and material. The Link network went to countries such as Sweden, where the proportion of transactions in cash is now only 10%, and asked what could be learned from that situation, which is …..." Lord Bates - View Speech