Thirtieth Report - The production and distribution of cash

Select Committee
Public Accounts Committee HC 654 4 December 2020
Report Status Government responded
Conclusions & Recommendations 25 items (6 recs)
Source View on Parliament website
Government Response (AI assessment · 24 of 25 classified)
Accepted 12
Acknowledged 4
Deferred 4
Not Addressed 4
Government response
Treasury minutes: Government response to the Committee of Public Accounts on the Thirtieth report from Session 2019-21 · published 25 Mar 2021
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Clear

Recommendations & Conclusions

4 results
2 Recommendation Deferred
We are not convinced that the public bodies understand how declining access and acceptance of...
Recommendation
We are not convinced that the public bodies understand how declining access and acceptance of cash can adversely affect many people’s lives. Some consumers prefer to use or rely on cash—particularly the elderly and lower income groups; those in rural … Read more
Government Response Summary
The government agrees with the recommendation to set out how it will incorporate community needs into its plan for cash access, but defers specific action. It states it is considering responses to a Call for Evidence and will outline next steps in due course.
HM Treasury
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3 Recommendation Deferred
No one is in overall charge of making sure that people and businesses have access...
Recommendation
No one is in overall charge of making sure that people and businesses have access to cash. The responsibilities and accountabilities of the different bodies for the functioning of the cash system are not clear. Five public authorities have responsibilities … Read more
Government Response Summary
The government agrees with the recommendation to assign overall responsibility for the cash system to a single body, noting the FCA may be well-positioned. However, it is currently considering responses to its Call for Evidence and will set out next steps in due course, deferring a concrete commitment.
HM Treasury
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12 Conclusion Deferred
We challenged the Treasury on who is responsible for the performance of the cash system.
Conclusion
We challenged the Treasury on who is responsible for the performance of the cash system. It accepted that it was ultimately responsible for proposing legislation to 20 Qq 39–40 21 Q 40 22 Q 41 23 Q 43 24 Q … Read more
Government Response Summary
The government agrees with the implied recommendation (based on its own proposal) to clarify responsibility for the cash system. It states it is considering responses to its Call for Evidence regarding giving a single authority, such as the FCA, overall responsibility and will set out next steps in due course.
HM Treasury
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13 Conclusion Deferred
There are gaps in the current distribution of powers and responsibilities.
Conclusion
There are gaps in the current distribution of powers and responsibilities. We asked, for example, who is responsible for monitoring the resilience of the cash machine network and for taking action should part of it fail. The PSR told us … Read more
Government Response Summary
The government agrees with the implicit recommendation to address the lack of a single organisation responsible for monitoring the cash system. It reiterates its proposal from the Call for Evidence to give a single authority, potentially the FCA, overall responsibility, but defers action to set out next steps after considering responses.
HM Treasury
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