Today’s select committee session focused on ‘the production and distribution of cash’. Barry’s questions were put to two of the witnesses- Dr Ben Broadbent, (Deputy Governor, Bank of England) and Nikhil Rathi, (Chief Executive designate, Financial Conduct Authority).
Barry questioned Dr Broadbent on the drive towards a cashless society and how the regulatory framework in place may be affecting this demand.
Barry also pushed Dr Broadbent on the question of who will pay for the drive to reduce cash. Barry put it to the witnesses that it is the poor and disadvantaged that are going to be worst hit by this; and used the example of pay to use ATM’s.
You can watch the full exchange below.