Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment he has made with Cabinet colleagues of the potential impact of a central bank digital currency on (a) national security and (b) digital exclusion.

HM Treasury and the Bank of England will conduct a full examination of the benefits and risks of introducing a digital pound, including an assessment of any potential national security and digital exclusion impacts. This assessment will be made before any decision is taken on whether to build and introduce the digital pound, over the coming years.