At the Spring Statement, the Chancellor announced a call for evidence on the role of cash and digital payments in the new economy. The digital economy has revolutionised the way people shop, sell , etc. with less than 50% of all payments now undertaken in cash.
The government would like a better understanding on how the transition from cash to digital payments impacts on different sectors, regions and demographics. They would like to ensure that the ability to pay by cash is available for those who need it, whilst cracking down on the minority who use cash to evade tax and launder money.
The consultation closes on 5 June 2018 and will seek both domestic and international evidence of what the government can do in this area.