- MPs warn that businesses like shops and restaurants may be required to accept cash payments due to the declining use of cash and the risk of excluding vulnerable groups.
- The Treasury Committee highlighted concerns about a potential "two-tier society" where those reliant on cash are disadvantaged.
- Cash usage has significantly decreased in the UK, impacting vulnerable groups who may face higher costs for goods and services as cash acceptance dwindles.
- MPs are urging the government to monitor cash acceptance levels and consider mandating it if safeguards for cash users aren't implemented.
- The report also noted the resilience benefits of cash, especially during bank outages, and the difficulty in accurately assessing cash acceptance levels due to inconsistent data.
IN FULL
Businesses could be forced to accept cash under new rules, MPs warn
