News

What Is The Obsession With Cash ?

Sunday 11th October 2020

Why are just a few people still obsessed with cash ? We hardly use it anymore and we certainly don't need it. All cash really does now is to keep the black economy going , fund criminals , terrorists , tax cheats and drug dealers while a just tiny minority of people prefer notes and coins.
The UK's economy would see an annual boost of at least £20 billion without cash as more tax thieves would be forced to pay their way. There would be a reduction in crime and make the prisons , the police and the criminal justice system more able to cope.
The use of bank notes was declining steadily and since Covid 19 , the use of cash has dropped off a cliff.
A few honest people clearly prefer cash and we have to help them manage without it. There are so many new , secure payment systems to suit everyone , every business , charities , children , elderly and disadvantaged people.
Link , who operate most ATMs have seen cash withdrawals halve last month. Natalie Ceeney , who chaired the Access to Cash Review claims becoming a cashless society has been hugely accelerated in the last few months. Those who support the continued use of cash , are effectively perpetrating the continued illicit use by criminals and tax cheats.
Honest hard-working people who pay their taxes are subsidising the black economy and now , while so many parts of normal life are probably changing forever , the time is right to become a cashless society which will be much fairer and better for all.