UK's cash system 'will collapse without new laws' - BBC News

Campaigners have called for Chancellor Rishi Sunak to save banknotes and coins, saying without urgent new laws the cash system could collapse within a decade.

They want Mr Sunak to take action in his first Budget on 11 March.

"We must ensure the shift to digital doesn't leave millions behind or put our economy at risk," said Natalie Ceeney, of the Access to Cash Review.

The Treasury said it wanted "to ensure everyone who needs cash can access it."

Cash is important to millions of people, who still use it for paying for vital goods and services, such as utility and council bills.

According to the Financial Inclusion Commission, nearly two million people in Britain don't have a bank account, meaning they need notes and coins to pay their way.

There were 11 billion cash payments in the UK in 2018, but they are forecast to fall to 3.8 billion in 2028, accounting for fewer than one in 10 (9%) of all payments.

A cashless society

"The UK is fast becoming a cashless society - without knowing what this really means for consumers or for the UK economy," said Ms Ceeney.

Over the past year, 13% of free-to-use UK cash points have closed, as lower levels of cash use have made them economically unviable. A quarter (25%) of the machines now charge people to withdraw their cash.

The Post Office's cash access service has come under threat. Barclays recently reversed plans to stop customers taking cash out from Post Offices after a backlash.

Long-term access to cash

"The cash network has already been dramatically eroded, and unless urgent action is taken in the Budget, it's clear that it will crumble completely," warned Jenny Ross, Which? Money Editor.

"The new Chancellor must seize this opportunity and guarantee long-term access to cash in the Budget, while developing a clear strategy to ensure that the transition to digital payments doesn't leave anyone behind."

Various initiatives have been set up by the industry to help maintain people's access to cash, including cashback initiatives at local shops and a "request an ATM" service.

But the Access to Cash Review believes the only way to manage the cash system is for the government to legislate and give regulators the tools that they need to protect cash access.

Banks should be forced to provide suitable cash access to their customers, they say.

A spokesman for the Treasury said: "Technology has transformed banking for millions of people, but we know that many still rely on cash.

"That's why we've invested £2bn to ensure everyday banking services are available at 11,500 Post Office branches across the UK.

"We're also working closely with industry and regulators to ensure everyone who needs cash can access it."

A UK Finance spokesman said the banking and finance industry recognises the importance of ensuring cash remains free and widely available for those that continue to need it.

It said the industry has introduced a number of measures to achieve help, including "arrangements by Link to protect free-to-use ATMs in more remote and rural areas and to ensure that every High Street in the UK has free access to cash."

The trade body warned that there is no "one size fits all" approach and understanding the needs of local communities is critical.

The Federation of Small Businesses (FSB) called for financial incentives so smaller businesses could offer partial refunds on goods and services.

Martin McTague, FSB national policy and advocacy chairman, said: "We need to look at how we make offering cashback commercially viable for small businesses. The right financial incentives are a must."

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2020-02-19 10:13:51Z
52780619681747

UK's cash system 'will collapse without new laws' - BBC News

Campaigners have called for Chancellor Rishi Sunak to save banknotes and coins, saying without urgent new laws the cash system could collapse within a decade.

They want Mr Sunak to take action in his first Budget on 11 March.

"We must ensure the shift to digital doesn't leave millions behind or put our economy at risk," said Natalie Ceeney, of the Access to Cash Review.

The Treasury said it wanted "to ensure everyone who needs cash can access it."

Cash is important to millions of people, who still use it for paying for vital goods and services, such as utility and council bills.

According to the Financial Inclusion Commission, nearly two million people in Britain don't have a bank account, meaning they need notes and coins to pay their way.

There were 11 billion cash payments in the UK in 2018, but they are forecast to fall to 3.8 billion in 2028, accounting for fewer than one in 10 (9%) of all payments.

A cashless society

"The UK is fast becoming a cashless society - without knowing what this really means for consumers or for the UK economy," said Ms Ceeney.

Over the past year, 13% of free-to-use UK cash points have closed, as lower levels of cash use have made them economically unviable. A quarter (25%) of the machines now charge people to withdraw their cash.

The Post Office's cash access service has come under threat. Barclays recently reversed plans to stop customers taking cash out from Post Offices after a backlash.

Long-term access to cash

"The cash network has already been dramatically eroded, and unless urgent action is taken in the Budget, it's clear that it will crumble completely," warned Jenny Ross, Which? Money Editor.

"The new Chancellor must seize this opportunity and guarantee long-term access to cash in the Budget, while developing a clear strategy to ensure that the transition to digital payments doesn't leave anyone behind."

Various initiatives have been set up by the industry to help maintain people's access to cash, including cashback initiatives at local shops and a "request an ATM" service.

But the Access to Cash Review believes the only way to manage the cash system is for the government to legislate and give regulators the tools that they need to protect cash access.

Banks should be forced to provide suitable cash access to their customers, they say.

A spokesman for the Treasury said: "Technology has transformed banking for millions of people, but we know that many still rely on cash.

"That's why we've invested £2bn to ensure everyday banking services are available at 11,500 Post Office branches across the UK.

"We're also working closely with industry and regulators to ensure everyone who needs cash can access it."

A UK Finance spokesman said the banking and finance industry recognises the importance of ensuring cash remains free and widely available for those that continue to need it.

It said the industry has introduced a number of measures to achieve help, including "arrangements by Link to protect free-to-use ATMs in more remote and rural areas and to ensure that every High Street in the UK has free access to cash."

The trade body warned that there is no "one size fits all" approach and understanding the needs of local communities is critical.

The Federation of Small Businesses (FSB) called for financial incentives so smaller businesses could offer partial refunds on goods and services.

Martin McTague, FSB national policy and advocacy chairman, said: "We need to look at how we make offering cashback commercially viable for small businesses. The right financial incentives are a must."

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2020-02-19 09:11:09Z
52780619681747

UK's cash system 'will collapse without new laws' - BBC News

Campaigners have called for Chancellor Rishi Sunak to save banknotes and coins, saying without urgent new laws the cash system could collapse within a decade.

They want Mr Sunak to take action in his first Budget on 11 March.

"We must ensure the shift to digital doesn't leave millions behind or put our economy at risk," said Natalie Ceeney, of the Access to Cash Review.

The Treasury said it wanted "to ensure everyone who needs cash can access it."

Cash is important to millions of people, who still use it for paying for vital goods and services, such as utility and council bills.

According to the Financial Inclusion Commission, nearly two million people in Britain don't have a bank account, meaning they need notes and coins to pay their way.

There were 11 billion cash payments in the UK in 2018, but they are forecast to fall to 3.8 billion in 2028, accounting for fewer than one in 10 (9%) of all payments.

A cashless society

"The UK is fast becoming a cashless society - without knowing what this really means for consumers or for the UK economy," said Ms Ceeney.

Over the past year, 13% of free-to-use UK cash points have closed, as lower levels of cash use have made them economically unviable. A quarter (25%) of the machines now charge people to withdraw their cash.

The Post Office's cash access service has come under threat. Barclays recently reversed plans to stop customers taking cash out from Post Offices after a backlash.

Long-term access to cash

"The cash network has already been dramatically eroded, and unless urgent action is taken in the Budget, it's clear that it will crumble completely," warned Jenny Ross, Which? Money Editor.

"The new Chancellor must seize this opportunity and guarantee long-term access to cash in the Budget, while developing a clear strategy to ensure that the transition to digital payments doesn't leave anyone behind."

Various initiatives have been set up by the industry to help maintain people's access to cash, including cashback initiatives at local shops and a "request an ATM" service.

But the Access to Cash Review believes the only way to manage the cash system is for the government to legislate and give regulators the tools that they need to protect cash access.

Banks should be forced to provide suitable cash access to their customers, they say.

A spokesman for the Treasury said: "Technology has transformed banking for millions of people, but we know that many still rely on cash.

"That's why we've invested £2bn to ensure everyday banking services are available at 11,500 Post Office branches across the UK.

"We're also working closely with industry and regulators to ensure everyone who needs cash can access it."

A UK Finance spokesman said the banking and finance industry recognises the importance of ensuring cash remains free and widely available for those that continue to need it.

It said the industry has introduced a number of measures to achieve help, including "arrangements by Link to protect free-to-use ATMs in more remote and rural areas and to ensure that every High Street in the UK has free access to cash."

The trade body warned that there is no "one size fits all" approach and understanding the needs of local communities is critical.

The Federation of Small Businesses (FSB) called for financial incentives so smaller businesses could offer partial refunds on goods and services.

Martin McTague, FSB national policy and advocacy chairman, said: "We need to look at how we make offering cashback commercially viable for small businesses. The right financial incentives are a must."

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2020-02-19 08:43:22Z
52780619681747

Pillowcases full of snakes keep getting dumped outside a UK fire station - CNN

The latest haul of 15 corn snakes and a carpet python was found on Saturday in a bin behind Farringdon Fire Station in Sunderland, northeast England, according to a statement from the Royal Society for the Prevention of Cruelty to Animals (RSPCA).

The 16 snakes were taken to the vets and found to be in fairly good condition despite their ordeal, according to RSPCA inspector Heidi Cleaver.

The inspector said she "couldn't believe" more snakes had been found in the "exact same spot" as the 13 royal pythons who were discovered on Thursday. One of the snakes found last week has since died.

"We were in the midst of Storm Dennis at the weekend when these snakes, who need heat and light in order to survive, were left outside in the cold with just a pillowcase to contain them," said Cleaver.

"It would have been very stressful for the snakes to be in such close proximity to each other as well."

The UK was battered by heavy rain and strong winds during Storm Dennis over the weekend, leading to severe flooding in some areas.

The RSPCA has appealed for information about the mystery surrounding the snakes being repeatedly dumped in the area.

Snakes can't maintain their body temperature by themselves and rely on their environment to do so.

If the reptiles get too cold they may be unable to feed or move as normal, and their immune system may cease to function properly, leaving them vulnerable to disease.

Snakes also made headlines in the US last week after a park in the Florida was closed to the public due to a water snake orgy.

Officials decided to close the park after a large group of Florida water snakes came together for mating season.

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2020-02-18 13:25:00Z
52780616688396

Brexit negotiator says UK must be able to set its own laws - BBC News

The UK "must have the ability to set laws that suit us," the PM's chief Brexit negotiator has said in a speech in Brussels.

David Frost has set out the UK's stance ahead of post-Brexit trade negotiations, due to start next month.

He dismissed the idea an EU court would have a role in future trade disputes, saying: "We only want what other independent countries have."

It comes as France warns Britain to expect a bruising battle during talks.

Acting Liberal Democrat leader Ed Davey said: "Boris Johnson should listen to the views of British businesses who want to maintain the closest possible alignment with the European Union."

Addressing students and academics at the Université libre de Bruxelles, Mr Frost said: "It is central to our vision that we must have the ability to set laws that suit us - to claim the right that every other non-EU country in the world has.

"So to think that we might accept EU supervision on so-called level playing field issues simply fails to see the point of what we are doing."

He said this was not a "a simple negotiating position which might move under pressure - it is the point of the whole project".

The UK wants a Canada-type free trade agreement with the EU, Mr Frost said. If this cannot be agreed, then Britain will trade on the basic international terms it currently follows with Australia.

He said the UK will set out more details of its vision for the future relationship with the EU next week.

Mr Frost also reiterated the government's insistence that it will not extend the transition period beyond the end of this year.

The transition period runs until 31 December 2020, during which time the UK continues follow EU rules - including freedom of movement.

It is intended to allow time for the UK and the EU to agree a post-Brexit trade agreement.

One of the key sticking points could be the idea of ensuring a level playing field - which was referred to by Mr Frost in his speech.

The EU wants the UK to sign up to strict rules on fair and open competition - known as level-playing-field guarantees - so if British companies are given tariff-free access to the EU market, they cannot undercut their rivals.

The EU has repeatedly warned that the UK cannot expect to enjoy continued "high-quality" market access if it insists on diverging from EU social and environmental standards.

It also wants the European Court of Justice to have a legal role in policing any free trade agreement reached.

But in his speech, Mr Frost asked: "How would you feel if the UK demanded that, to protect ourselves, the EU dynamically harmonise with our national laws set in Westminster and the decisions of our own regulators and courts?

"The more thoughtful would say that such an approach would compromise the EU's sovereign legal order."

A rare appearance by the PM's man in Brussels

This was a rare public appearance by the man who'll run Boris Johnson's negotiations with the EU.

David Frost told the audience at a university in Brussels that the whole point of the UK's departure was so it could set its own laws for its own benefit.

And that's why Britain couldn't accept the continued application of European rules or the involvement of Brussels in competition policy as the conditions for an ambitious free trade agreement.

The question is whether that can be reconciled with the EU's position that it has to apply more stringent safeguards to its neighbour than it does to Canada, Japan or South Korea.

This carefully controlled event in front of some students, a few diplomats and a lot fewer journalists was designed to show the post-Brexit politics of Britain, not to spell out the government's opening negotiating position in detail.

That'll come next week, when the EU is expected to do the same.

Speaking on Sunday, French Foreign Minister Jean-Yves Le Drian predicted the two sides would "rip each other apart" as they strove for advantage in the negotiations.

"But that is part of negotiations, everyone will defend their own interests," he added.

He also said it would be tough for the UK to achieve its aim of agreeing a free trade deal by the end of the year.

Speaking at a security conference in Munich, Mr Le Drian said the two sides were far apart on a range of issues.

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2020-02-18 11:06:27Z
52780612712295

Brexit negotiator says UK must be able to set its own laws - BBC News

The UK "must have the ability to set laws that suit us," the PM's chief Brexit negotiator has said in a speech in Brussels.

David Frost has set out the UK's stance ahead of post-Brexit trade negotiations, due to start next month.

He dismissed the idea an EU court would have a role in future trade disputes, saying: "We only want what other independent countries have."

It comes as France warns Britain to expect a bruising battle during talks.

Acting Liberal Democrat leader Ed Davey said: "Boris Johnson should listen to the views of British businesses who want to maintain the closest possible alignment with the European Union."

Addressing students and academics at the Université libre de Bruxelles, Mr Frost said: "It is central to our vision that we must have the ability to set laws that suit us - to claim the right that every other non-EU country in the world has.

"So to think that we might accept EU supervision on so-called level playing field issues simply fails to see the point of what we are doing."

He said this was not a "a simple negotiating position which might move under pressure - it is the point of the whole project".

The UK wants a Canada-type free trade agreement with the EU, Mr Frost said. If this cannot be agreed, then Britain will trade on the basic international terms it currently follows with Australia.

He said the UK will set out more details of its vision for the future relationship with the EU next week.

Mr Frost also reiterated the government's insistence that it will not extend the transition period beyond the end of this year.

The transition period runs until 31 December 2020, during which time the UK continues follow EU rules - including freedom of movement.

It is intended to allow time for the UK and the EU to agree a post-Brexit trade agreement.

One of the key sticking points could be the idea of ensuring a level playing field - which was referred to by Mr Frost in his speech.

The EU wants the UK to sign up to strict rules on fair and open competition - known as level-playing-field guarantees - so if British companies are given tariff-free access to the EU market, they cannot undercut their rivals.

The EU has repeatedly warned that the UK cannot expect to enjoy continued "high-quality" market access if it insists on diverging from EU social and environmental standards.

It also wants the European Court of Justice to have a legal role in policing any free trade agreement reached.

But in his speech, Mr Frost asked: "How would you feel if the UK demanded that, to protect ourselves, the EU dynamically harmonise with our national laws set in Westminster and the decisions of our own regulators and courts?

"The more thoughtful would say that such an approach would compromise the EU's sovereign legal order."

A rare appearance by the PM's man in Brussels

This was a rare public appearance by the man who'll run Boris Johnson's negotiations with the EU.

David Frost told the audience at a university in Brussels that the whole point of the UK's departure was so it could set its own laws for its own benefit.

And that's why Britain couldn't accept the continued application of European rules or the involvement of Brussels in competition policy as the conditions for an ambitious free trade agreement.

The question is whether that can be reconciled with the EU's position that it has to apply more stringent safeguards to its neighbour than it does to Canada, Japan or South Korea.

This carefully controlled event in front of some students, a few diplomats and a lot fewer journalists was designed to show the post-Brexit politics of Britain, not to spell out the government's opening negotiating position in detail.

That'll come next week, when the EU is expected to do the same.

Speaking on Sunday, French Foreign Minister Jean-Yves Le Drian predicted the two sides would "rip each other apart" as they strove for advantage in the negotiations.

"But that is part of negotiations, everyone will defend their own interests," he added.

He also said it would be tough for the UK to achieve its aim of agreeing a free trade deal by the end of the year.

Speaking at a security conference in Munich, Mr Le Drian said the two sides were far apart on a range of issues.

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2020-02-18 09:49:44Z
52780612712295

Brexit negotiator says UK must be able to set its own laws - BBC News

The UK "must have the ability to set laws that suit us," the PM's chief Brexit negotiator has said in a speech in Brussels.

David Frost has set out the UK's stance ahead of post-Brexit trade negotiations, due to start next month.

He dismissed the idea an EU court would have a role in future trade disputes, saying: "We only want what other independent countries have."

It comes as France warns Britain to expect a bruising battle during talks.

Acting Liberal Democrat leader Ed Davey said: "Boris Johnson should listen to the views of British businesses who want to maintain the closest possible alignment with the European Union."

Addressing students and academics at the Université libre de Bruxelles, Mr Frost said: "It is central to our vision that we must have the ability to set laws that suit us - to claim the right that every other non-EU country in the world has.

"So to think that we might accept EU supervision on so-called level playing field issues simply fails to see the point of what we are doing."

He said this was not a "a simple negotiating position which might move under pressure - it is the point of the whole project".

The UK wants a Canada-type free trade agreement with the EU, Mr Frost said. If this cannot be agreed, then Britain will trade on the basic international terms it currently follows with Australia.

He said the UK will set out more details of its vision for the future relationship with the EU next week.

Mr Frost also reiterated the government's insistence that it will not extend the transition period beyond the end of this year.

The transition period runs until 31 December 2020, during which time the UK continues follow EU rules - including freedom of movement.

It is intended to allow time for the UK and the EU to agree a post-Brexit trade agreement.

One of the key sticking points could be the idea of ensuring a level playing field - which was referred to by Mr Frost in his speech.

The EU wants the UK to sign up to strict rules on fair and open competition - known as level-playing-field guarantees - so if British companies are given tariff-free access to the EU market, they cannot undercut their rivals.

The EU has repeatedly warned that the UK cannot expect to enjoy continued "high-quality" market access if it insists on diverging from EU social and environmental standards.

It also wants the European Court of Justice to have a legal role in policing any free trade agreement reached.

But in his speech, Mr Frost asked: "How would you feel if the UK demanded that, to protect ourselves, the EU dynamically harmonise with our national laws set in Westminster and the decisions of our own regulators and courts?

"The more thoughtful would say that such an approach would compromise the EU's sovereign legal order."

A rare appearance by the PM's man in Brussels

This was a rare public appearance by the man who'll run Boris Johnson's negotiations with the EU.

David Frost told the audience at a university in Brussels that the whole point of the UK's departure was so it could set its own laws for its own benefit.

And that's why Britain couldn't accept the continued application of European rules or the involvement of Brussels in competition policy as the conditions for an ambitious free trade agreement.

The question is whether that can be reconciled with the EU's position that it has to apply more stringent safeguards to its neighbour than it does to Canada, Japan or South Korea.

This carefully controlled event in front of some students, a few diplomats and a lot fewer journalists was designed to show the post-Brexit politics of Britain, not to spell out the government's opening negotiating position in detail.

That'll come next week, when the EU is expected to do the same.

Speaking on Sunday, French Foreign Minister Jean-Yves Le Drian predicted the two sides would "rip each other apart" as they strove for advantage in the negotiations.

"But that is part of negotiations, everyone will defend their own interests," he added.

He also said it would be tough for the UK to achieve its aim of agreeing a free trade deal by the end of the year.

Speaking at a security conference in Munich, Mr Le Drian said the two sides were far apart on a range of issues.

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2020-02-18 09:11:25Z
52780612712295