Debating the future of cash

£27.00

This 581-word blog post talks about the future of copper coins in the UK and the withdrawal of free-to-use cash machines since the start of the year. Written on 4th May 2019.

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Article preview: The future of cash in society is a hot topic, with changes to our shopping habits and advances in payment technology both spelling danger to coins and notes. Until recently, the future of 1p and 2p coins was in doubt. HM Treasury has quashed fears of their removal from circulation, saying they will still be used “for years to come”. The future of copper coins became unclear when Chancellor Philip Hammond launched a consultation around the mix of coins and banknotes used in the UK. His tune has changed since, saying he wants us to “have a choice” when it comes to how we spend our money. It’s a significant issue because an estimated 2.2 million people in the UK rely on cash. This includes the elderly and more vulnerable members of society, and those living in the countryside.