Asked by: Simon Hoare (Conservative - North Dorset)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the (a) long-term and (b) short-term effect of LINK’s proposals to reduce the interchange fee on the free-to-use ATM network; and what estimate has been made of the number of ATMs that will be affected by that reduction.
Answered by Mel Stride - Secretary of State for Work and Pensions
The Government recognises that widespread free access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK. Government will continue to engage with industry to ensure that widespread free access is maintained.
The Payment Systems Regulator (PSR), which Government set up as an independent regulator in 2015 with a statutory objective to ensure that the UK’s payment systems work in the interests of their users, is monitoring developments within ATM provision, and is conducting ongoing work on the impact that changes may have. The PSR has recently published a summary of their work to date, which can be found at https://www.psr.org.uk/psr-focus/the-UK-ATM-network.
The PSR has committed to using its powers to act should any of the firms it regulates behave in a way that conflicts with its statutory objectives.
LINK, the main scheme behind the UK’s ATM network, has assured us and the PSR that industry is committed to maintaining an extensive network of free-to-use cash machines, and to ensuring that the present geographical spread of ATMs is maintained. LINK has announced plans to bolster its Financial Inclusion Programme, which ensures the provision of ATMs in certain areas where demand would not otherwise make one viable. LINK has also committed to protecting all free-to-use ATMs which are a kilometre or more from the next nearest free-to-use ATM, and to ensuring that any community that loses ATM access because of a branch closure has a free ATM provided.
In addition, LINK will set up publicly available monitoring on its website of every area of the country showing free ATM availability, and highlight any areas where free ATM availability is lost.
Asked by: Simon Hoare (Conservative - North Dorset)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions his Department has had with LINK on (a) the proposed reduction in the interchange fee and (b) the Financial Inclusion Programme.
Answered by Robert Jenrick
The Government recognises that widespread free access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK. Government has been engaging and will continue to engage with industry, including LINK, to ensure that this access is maintained.
The Government has not made any formal assessment of the potential effect of LINK’s proposals to change the interchange fee rate on consumers, small businesses, the North Dorset constituency or other rural communities. However, the Payment Systems Regulator (PSR), which Government set up as an independent regulator in 2015 with a statutory objective to ensure that the UK’s payment systems work in the interests of their users, is monitoring developments within ATM provision, and is conducting ongoing work on the impact that changes may have. The PSR has recently published a summary of their work to date, which can be found at https://www.psr.org.uk/psr-focus/the-UK-ATM-network.
The PSR has committed to using its powers to act should any of the firms it regulates behave in a way that conflicts with its statutory objectives.
LINK has assured us and the PSR that industry is committed to maintaining an extensive network of free-to-use cash machines, and to ensuring that the present geographical spread of ATMs is maintained. LINK intends to bolster its Financial Inclusion Programme, which ensures the provision of ATMs in areas of deprivation, where demand would not otherwise make one viable, and has also committed to protecting all free-to-use ATMs which are a kilometre or more from the next nearest free-to-use ATM.
Asked by: Simon Hoare (Conservative - North Dorset)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect of ATM closures resulting from LINK’s proposed reduction in the interchange fee on (a) North Dorset constituency and (b) other rural communities.
Answered by Robert Jenrick
The Government recognises that widespread free access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK. Government has been engaging and will continue to engage with industry, including LINK, to ensure that this access is maintained.
The Government has not made any formal assessment of the potential effect of LINK’s proposals to change the interchange fee rate on consumers, small businesses, the North Dorset constituency or other rural communities. However, the Payment Systems Regulator (PSR), which Government set up as an independent regulator in 2015 with a statutory objective to ensure that the UK’s payment systems work in the interests of their users, is monitoring developments within ATM provision, and is conducting ongoing work on the impact that changes may have. The PSR has recently published a summary of their work to date, which can be found at https://www.psr.org.uk/psr-focus/the-UK-ATM-network.
The PSR has committed to using its powers to act should any of the firms it regulates behave in a way that conflicts with its statutory objectives.
LINK has assured us and the PSR that industry is committed to maintaining an extensive network of free-to-use cash machines, and to ensuring that the present geographical spread of ATMs is maintained. LINK intends to bolster its Financial Inclusion Programme, which ensures the provision of ATMs in areas of deprivation, where demand would not otherwise make one viable, and has also committed to protecting all free-to-use ATMs which are a kilometre or more from the next nearest free-to-use ATM.
Asked by: Simon Hoare (Conservative - North Dorset)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the number of ATMs that will be withdrawn as a result of a 20 per cent reduction in the LINK interchange fee.
Answered by Robert Jenrick
The Government recognises that widespread free access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK. Government has been engaging and will continue to engage with industry, including LINK, to ensure that this access is maintained.
The Government has not made any formal assessment of the potential effect of LINK’s proposals to change the interchange fee rate on consumers, small businesses, the North Dorset constituency or other rural communities. However, the Payment Systems Regulator (PSR), which Government set up as an independent regulator in 2015 with a statutory objective to ensure that the UK’s payment systems work in the interests of their users, is monitoring developments within ATM provision, and is conducting ongoing work on the impact that changes may have. The PSR has recently published a summary of their work to date, which can be found at https://www.psr.org.uk/psr-focus/the-UK-ATM-network.
The PSR has committed to using its powers to act should any of the firms it regulates behave in a way that conflicts with its statutory objectives.
LINK has assured us and the PSR that industry is committed to maintaining an extensive network of free-to-use cash machines, and to ensuring that the present geographical spread of ATMs is maintained. LINK intends to bolster its Financial Inclusion Programme, which ensures the provision of ATMs in areas of deprivation, where demand would not otherwise make one viable, and has also committed to protecting all free-to-use ATMs which are a kilometre or more from the next nearest free-to-use ATM.
Asked by: Simon Hoare (Conservative - North Dorset)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of LINK’s proposed reduction of the interchange fee on (a) consumers and (b) small businesses.
Answered by Robert Jenrick
The Government recognises that widespread free access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK. Government has been engaging and will continue to engage with industry, including LINK, to ensure that this access is maintained.
The Government has not made any formal assessment of the potential effect of LINK’s proposals to change the interchange fee rate on consumers, small businesses, the North Dorset constituency or other rural communities. However, the Payment Systems Regulator (PSR), which Government set up as an independent regulator in 2015 with a statutory objective to ensure that the UK’s payment systems work in the interests of their users, is monitoring developments within ATM provision, and is conducting ongoing work on the impact that changes may have. The PSR has recently published a summary of their work to date, which can be found at https://www.psr.org.uk/psr-focus/the-UK-ATM-network.
The PSR has committed to using its powers to act should any of the firms it regulates behave in a way that conflicts with its statutory objectives.
LINK has assured us and the PSR that industry is committed to maintaining an extensive network of free-to-use cash machines, and to ensuring that the present geographical spread of ATMs is maintained. LINK intends to bolster its Financial Inclusion Programme, which ensures the provision of ATMs in areas of deprivation, where demand would not otherwise make one viable, and has also committed to protecting all free-to-use ATMs which are a kilometre or more from the next nearest free-to-use ATM.
Asked by: Simon Hoare (Conservative - North Dorset)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with the universities sector on mitigating any negative effect on the sector after the UK leaves the EU.
Answered by Elizabeth Truss
Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:
The government is committed to maintaining the position of our world-class universities and is listening closely to the sector as we implement the Higher Education and Research Act 2017 and begin the exit process from the European Union. The Chancellor has recently met the Russell Group in this regard.