Treasury Committee urges government to take cash acceptance seriously: Positive Money response

Ellie McLaughlin, Senior Policy and Advocacy Manager at Positive Money, said: 

“As the power outages across Spain and Portugal this week showed, cash isn’t just vital for vulnerable communities; its immunity from technical faults and cyber attacks makes it a critical payment method.

“The Treasury Committee is right to say that declining cash acceptance, and little government intervention to protect it, has us “sleepwalking” into a bad situation where cash could no longer be used for essential payments. 

“The Government should act urgently on the Committee’s recommendations and follow in the footsteps of other countries to ensure that cash acceptance is maintained and strengthened across the UK.”

Notes:

• The Treasury Committee’s report can be found here: https://committees.parliament.uk/committee/158/treasury-committee/news/206575/risk-of-two-tier-society-if-government-does-not-act-on-cash-acceptance 

• After years of promoting a cashless society, the Swedish central bank is now encouraging citizens to carry cash for national security reasons: https://www.theguardian.com/technology/2025/mar/16/sweden-cash-digital-payments-electronic-banking-security 

About Positive Money:

Positive Money is an international research and campaign organisation working to redesign our economic system for social justice and a liveable planet. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of supporters. Find out more: www.positivemoney.org