A cashless society would put elderly at risk, say MPs

Firms may be forced to accept notes under new rules

- VICKY SHAW

Businesses like shops and restaurants may soon need to be forced to accept coins and banknotes, MPs have warned, as fewer and fewer people opt to pay in cash.

There is a risk that the UK drifts into a loss of cash acceptance for those who rely on it, the Treasury committee said, creating a “two-tier society”.

The cross-party group added that cash usage has decreased significantly across the UK, and urged the government to undertake a “vastly improved” monitoring and reporting of cash acceptance levels.

Members said these steps may be necessary to prevent vulnerable groups from becoming excluded from community spaces such as leisure centres, theatres and public transport.

Those representing vulnerable sectors of society, including people with learning disabilities, domestic abuse victims and the elderly, were heard from by the committee, it said. They found that these people reported 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.

The report said: “There may come a time in the future where it becomes necessary for HM Treasury to mandate cash acceptance if appropriate safeguards have not been implemented for those who need physical cash, and the level of cash acceptance begins to lead to widespread detriment.