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<p>The Government has committed to legislate to protect access to cash and ensure
that the UK’s cash infrastructure is sustainable for the long term. To progress this
work, the Government published a Call for Evidence on Access to Cash in October 2020.
The Call for Evidence sought views on the key considerations associated with cash
access, including deposit and withdrawal facilities, cash acceptance, and regulatory
oversight of the cash system. The Government is considering responses to the Call
for Evidence and will set out next steps in due course.</p><p> </p><p>The Government
created the Joint Authorities Cash Strategy Group in 2019, which has provided a forum
for the public bodies to formally co-ordinate respective approaches to access to cash.
This is chaired by HM Treasury and attended by the Bank of England, Payment Systems
Regulator (PSR) and Financial Conduct Authority (FCA). The Group published an update
on the actions of the Group’s members in July 2020. This included work led by the
PSR and FCA to develop a comprehensive picture of cash access infrastructure across
the UK.</p><p> </p><p>The COVID-19 pandemic has impacted cash usage in the short-term
and is likely to have accelerated the longer-term trends of declining cash use. However,
it is too early to determine the lasting effect.</p><p> </p><p>During the COVID-19
pandemic, the Treasury has been working closely with regulators and industry to ensure
customers continue to have access to essential banking services, including cash, while
also protecting the safety of staff and customers. This has meant the vast majority
of people have been able to access cash through the pandemic.</p>
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