Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what her policy is on the development of the digital pound.

HM Treasury and the Bank of England are continuing to explore the case for the digital pound.

No decision has been taken on whether to introduce the digital pound.  The work currently being undertaken will provide the evidence base for a decision in due course.  Any decision will also take account of international developments and wider trends in money and payments.

If a decision was taken to proceed with the digital pound, primary legislation would be introduced prior to its launch. Legislation would be preceded by a further public consultation and would guarantee users’ privacy and control of their money.