Firms could be forced to accept cash payment

BUSINESSES may need to be forced to accept coins and banknotes, to make sure the UK does not drift into a loss of cash acceptance for those who rely on it, the Treasury Committee has warned.

- VICKY SHAW

The committee said cash usage has decreased significantly across the UK and it is urging the Government to undertake a "vastly improved" monitoring and reporting of cash acceptance levels.

Not doing so could risk creating a two-tier society, where vulnerable groups become excluded from community spaces such as leisure centres, theatres and public transport, it added.

The committee said it has heard from those representing vulnerable sectors of society, including people with learning disabilities, domestic abuse victims and the elderly, that buying essential goods and services can cost more, as the number of places where they can spend coins and banknotes shrinks.

It added that, having heard evidence on the impact of declining cash acceptance on vulnerable communities, MPs believe there may be a time in the future when it becomes necessary for the Treasury to mandate cash acceptance, if those who rely on physical cash are not adequately supported.