To ask Her Majesty’s Government what plans they have (1) to designate the United Kingdom’s cash infrastructure as critical national infrastructure, and (2) to introduce a universal service obligation for the provision of cash.
My Lords, does my noble friend agree that the future of financial services is digital, and that that future must be inclusive, accessible and empowering? At least until that future arrives, cash still matters materially to millions.
I absolutely agree with my noble friend. In fact, cash remains the second-most used payment form in this country. That is exactly why we have made this commitment to legislate and launch the consultation on our specific proposals, which we look forward to taking forward.