🔵BLUE: A story about a contentious political issue, citing the opinions of MPs
A new report from the Treasury Committee has warned that shops and services in the UK may need to be legally required to accept cash in the future, amid concerns that vulnerable groups are being left behind in the transition to a cashless society.
While the committee stopped short of demanding immediate legislation, it said the government must vastly improve how it monitors cash acceptance. The report warns that without stronger safeguards, people reliant on physical currency—such as the elderly, disabled, or those escaping domestic abuse—could find themselves excluded from essential goods and services.
Currently, UK businesses can refuse cash and choose their preferred method of payment. But MPs heard evidence that this trend risks creating a “poverty premium,” as cash-accepting outlets become scarcer and potentially more expensive.
Dame Meg Hillier MP, chair of the committee, said the government was “in the dark” on how widely cash is still accepted and that this was “completely unsustainable.”
The Treasury has so far rejected calls to make cash acceptance mandatory, but the committee’s warning marks a growing political debate over financial inclusivity as Britain moves toward digital payments.