Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of a UK central bank digital currency on financial exclusion.

The Government is committed to promoting financial inclusion, meaning that individuals, regardless of their background or income, have access to useful and affordable financial products and services. These include banking, payment services, credit, insurance, and the use of financial technology.

The consultation on the digital pound closed on 30 June, and we are now assessing the responses. We will publish a consultation response publication in due course. A digital pound could help financial exclusion. Financial inclusion and the needs of vulnerable people will be considered by HM Treasury and the Bank of England at every stage.