Thirtieth Report - The production and distribution of cash

The Bank of England accepts the recommendation and commits to conducting surveys over the next year to understand household and small business use of banknotes as a store of value. It will also engage with HMRC and the National Crime Agency for additional information.

The Bank of England accepts the recommendation, committing to review its documentation around stock decisions and contingency requirements to ensure it clearly records the main factors contributing to final decisions on print volumes and stocks by December 2021.

The government agrees with the Committee's observations and commits to protecting access to cash, with a target implementation date of Spring 2021. It highlights ongoing efforts and is considering responses to its Call for Evidence, with next steps to be set out in due course.

The Bank of England agrees with the Committee's observation and commits to conducting surveys over the next year on households' and small businesses' use of banknotes as a store of value, and to engage with HMRC and the National Crime Agency for additional information.

The Bank of England agrees with the Committee's observation and commits to conducting surveys over the next year on households' and small businesses' use of banknotes as a store of value, and to engage with HMRC and the National Crime Agency for additional information, which addresses the underlying reasons for increased notes.

The Bank of England, treating the conclusion as a recommendation, commits to conducting surveys over the next year to understand how households and small businesses use banknotes as a store of value. It will also engage with HMRC and the National Crime Agency for additional relevant information to address the lack of data.

The Bank of England accepts the recommendation, committing to review its documentation regarding stock decisions and contingency requirements. This review will ensure clear recording of the main factors influencing final decisions on print volumes and stock levels by December 2021.

The government agrees with the Committee's observations on reduced coin production and outlines how HM Treasury and The Royal Mint are improving business efficiencies, reducing manufacturing costs, and enhancing forecasting accuracy to manage the impact of declining coin use.

The government agrees with the Committee's observations on declining coin demand and outlines how HM Treasury and The Royal Mint are improving business efficiencies, reducing manufacturing costs, and enhancing forecasting accuracy to manage the impact of reduced transactional cash use.

The government agrees with the Committee's observations on rising coin stocks and outlines how HM Treasury and The Royal Mint are improving business efficiencies, reducing manufacturing costs, and enhancing forecasting accuracy to manage the impact of reduced transactional cash use and stock levels.

The government agrees with the Committee's observations on coin demand fluctuations due to Covid-19 and details how HM Treasury and The Royal Mint are improving forecasting and operational measures to ensure appropriate coin availability despite declining long-term use.

The government acknowledges the financial pressures on the Royal Mint and describes ongoing efforts to improve business efficiencies, reduce costs, and accurately forecast coin demand. The response details existing measures rather than new commitments.