The Bank of England Concedes - The British Public WANT Cash! - Image 1

The Bank of England Concedes - The British Public WANT Cash!

Posted on: 28/10/2024

A Game Changing quote from this article:

“If the U.K. adopts a digital currency, citizens shouldn’t expect cash and coins to disappear.

That’s according to Bank of England Governor Andrew Bailey, who said Saturday (Oct. 26) that the central bank will continue to provide paper money “for as long as people want.”

“The evidence is they do want it, so we will continue to supply it,” added Bailey”

This is wonderful news from the Bank of England!

The Payment Choice Alliance was first to introduce the word “WANT” into the debate on how the British public feel about cash.

Previously, the focus of the “authorities” was on “NEED”, taking the position that only a few million out of the total of the 67 million people living in the UK have a “need” for cash. The less well-off; the more mature; those with physical or mental challenges; people who cannot master the intricacies of smartphones.

All of those groups need very serious consideration - BUT 81% of British adults recently told the LINK ATM Scheme that they WANT to retain cash as a payment option - thats around 45 million people.

The LINK research findings back up the YouGov report last year which confirmed that 40 million British adults want a law put in place guaranteeing their right to use their cash, when and where they choose; a Payment Choice Act.

Cash is NOT a fringe issue.

Which is why the British government must deliver Payment Choice legislation before the end of 2025!

Source: pymnts.com/cbdc/2024/bank-of-england-digital-currency-wont-supplant-cash-in-uk




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