Pressure Builds on HM Treasury for a Rethink on UK Cash Access and Acceptance. - Image 1

Pressure Builds on HM Treasury for a Rethink on UK Cash Access and Acceptance.

Posted on: 20/11/2023

A starting point for rethinking UK cash access and acceptance is dispelling once and for all the notion that the recent HM Treasury Policy Statement on Cash Access was intended to preserve cash access.

IT WAS NOT.

It was a piece of puffery, designed to allow the High Street banks to continue their programmes of bank branch closures and ATM removals.

The Treasury Policy Statement did not even mention ATMs, which deliver 90% plus of the cash used by the British public.

Luckily, the government figures responsible for this farce - John Glen and Andrew Griffith - were both removed in the Autumn reshuffle.

This gives Chancellor Jeremy Hunt, new Chief Secretary to the Treasury Laura Trott and new Economic Secretary Bim Afolami MP the opportunity to genuinely start to sort out issues with the economics of operating ATMs; the control of cash distribution; and cash acceptance.

The UK Cash Supply Alliance and Payment Choice Alliance have submitted proposals to HM Treasury and stand ready to discuss with the relevant government ministers how the proposed solutions can be implemented, at no cost to the government or taxpayers.

The time to act is NOW.

The Payment Choice Alliance and UK Cash Supply Alliance are looking forward working with the new HM Treasury team to help properly plan the long-term future of cash access, acceptance and distribution.

Source: news.yahoo.com/more-protect-access-cash-autumn-184027515.html?guccounter=1




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