Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department plans to take to protect access to cash.

The Government remains committed to legislating on cash as announced by the Chancellor at March 2020 Budget. The legislation will ensure continued access to cash for those that rely on it and that the UK’s cash infrastructure is sustainable in the long-term.

The Treasury is working at pace to develop this legislation, and is engaging closely with the Payment Systems Regulator, Financial Conduct Authority and Bank of England, including through the Joint Authorities Cash Strategy Group, to ensure its approach to legislation reflects the needs of cash users across the economy. The authorities are also currently leading an ambitious programme of work with industry to reach consensus on cash access solutions in line with the Government’s objectives.

The Government and regulators are monitoring developments relating to COVID-19 closely, including monitoring the impacts on cash access, and working with industry so that banks, building societies, credit unions and Post Offices maintain essential banking services as needed, including cash access.