Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether he plans to hold a public consultation on proposals to remove £50 notes from circulation.

There are no proposals to withdraw the fifty pound banknote from circulation. Nor are there plans to scrap any other note, or coin, currently in circulation.

We recently issued a call for evidence to better understand the role of cash and digital payments in the new economy. One part of this seeks views on whether the current mix of coins, and notes, meet the public’s needs.

Cash continues to play an important part in the lives of many people and businesses in the UK. We are committed to ensuring that these needs continue to be met.