An article penned by Damian Hinds MP on the pros and cons of cash v digital refers. Unlike France, we do not have the right here in the UK to insist upon cash being accepted in payment.
If legal tender is to be meaningful it must be accepted in all circumstances in my opinion, and the law here should reflect that.
Cash is still an important way of managing finances.
Here in Alton I took a straw poll from regular staff on the checkouts at Iceland, Sainsbury’s and M&S.
At Iceland, around 60 per cent of payment transactions are in cash, 50 per cent at Sainsbury’s, and 25 per cent of payments at M&S are in cash rather than by debit or credit card.
If the grid fails, or we are hacked, cash will be king.
At the bare minimum, as a fall back there must always be an alternative to digital payments and digital currency, lest they fail – otherwise it is back to bartering!
Got any shallots, anyone? I can trade with runner beans.
Draymans Way, Alton