The Public Affairs Committee has launched an inquiry into the production and distribution of cash. The committee states the use of cash is reducing and the outbreak of Covid-19 has accelerated this trend, with demand for notes and coins declining by 71% between March and Mid-April this year.
The committee states evidence shows older people and those on a low income are more likely to make cash transactions, but in just two years to December 2019, there was a 17% reduction in free-to-use ATMs. It will be seeking to explore this issue as well as others such as safeguarding access to cash, how much cash is in circulation and the threat of counterfeiting.
The Committee invited written evidence on any of the above issues and LLA provided its response