Re: Abolition of Cash
It seems that - in recognition of the decline in being able to obtain cash and the difficulty this presents for so many people - The Treasury is launching a consultation into the possibility of getting cash in shops without having to make a purchase.
It's no great surprise that the industry is already objecting saying - amongst other things - that it will make them more vulnerable to attempts of robbery.
Personally though I don't see quite how they will be holding significantly more cash than they do now.
I mean, it's like a perpetual cycle; those who do use cash will take it out and then spend it again and so the cycle goes on.
And those who use electronic means and cards will continue to do so, like myself who haven't carried cash on a regular basis for years - and the pockets in my trousers last longer as a result!
(I think I have a dusty plastic fiver and a tenner in my wallet for "just in case" - but they must have been in there for certainly well over a year.)
I can see this being beneficial for a certain minority, one of whom is my near-luddite technophobe MIL (bless her) who has an aversion to using her bank card unless it is absolutely necessary.