Simple Economic Boost For The Chancellor
Tuesday 1st September 2020
While there are many varying ideas and suggestions circulating of how the Chancellor can pay for the Government's handling of the Coronavirus , there is one simple suggestion.
If the UK becomes a cashless society , this would give an annual economic boost of at least £20 billion and make Britain a fairer and safer society with far less crime.
Due to the sheer scale of Tax and VAT evasion by the illicit use of cash , if those who should pay tax , actual;y did , the financial benefits for all of us would be vast.
Currently hard-working and honest people are subsidising the 'black economy ' though of course there are also people who , just as honest , prefer cash.
Unfortunately , the use of notes and coins is no longer sustainable. There are now many new , secure payment systems to suit everyone , every business , charities , children , elderly and disadvantaged people.
There are also non-cash systems which have no 'Big Brother ' / data fears which some people have.
We all now cash is dirty and the World Health Organisation have said the virus can be spread by notes and coins.
There is no better time for all of us to embrace the inevitable move to a cashless UK.