Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether his Department has made an assessment of the effect of the increasing use of and reliance on electronic cashless payments on people (a) with protected characteristics and (b) on low incomes; and if he will make a statement.

While the Government has not made the described assessment, the Government does recognise that people are increasingly moving away from cash and that the growth in the use of digital payments has been rapid.

Cash continues to be important, especially for the more vulnerable members of society and the elderly, and for the day-to-day lives of many consumers and businesses in the UK.

The Government therefore wants to make sure that our economy is fit for the future and keeps pace with changes in the ways that people manage their finances whilst also ensuring that the public’s legitimate cash needs continue to be met.

In Spring, the Government launched a call for evidence on cash and digital payments in the new economy. It sought information on how the shift from cash to digital payments impacts on different sectors, different regions and different demographics. The Government will respond to the call for evidence in due course.