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BREAKING NEWS: Chancellor announces Consultation on ‘The future of cash and digital payments’ in Spring Statement

 In today’s Spring Statement, the Chancellor announced a consultation on ‘The future of cash and digital payments’.

The purpose of the consultation is ‘To better understand the role of cash and digital payments in the new economy, the government has launched a call for evidence. We want to make sure that our economy is fit for the future and keeps pace with changes in the ways that people pay for goods and services.

This call for evidence represents an important step in the discussion about cash and digital payments in the new economy, and how the transition from cash to digital payments impacts on different sectors, different regions and different demographics. It seeks to gather evidence to inform that debate, by exploring how the government can support digital payments and ensure that the ability to pay by cash is available for those who need it, whilst cracking down on the minority who use cash to evade tax and launder money. It is seeking both domestic and international evidence of what the government can and should do in this area’.

You can find more information about the consultation, including the consultation document here.

The consultation deadline is 11:59pm on 5 June 2018.

We will shortly announce a date for a Vendorcom Consultation Roundtable.

13th March 2018

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