Downing Street drops penny-pinching plan

Latest news

    1p and 2p coins

    Downing Street has backed away from a plan to scrap copper coins.

    The prime minister’s spokesman said there were “no proposals to scrap 1 or 2p coins”.

    The Treasury has been consulting on the mix of coins in circulation as card and digital payments gain popularity.

    Theresa May’s spokesman said: “The consultation’s call for evidence was simply intended to help the government better understand the role of cash and digital payments.

    “One of the elements was whether the denominational mix of coins meets the public need. From the early reaction it looks as if it does.”

    Many countries including Australia, Brazil, Canada and Sweden have ditched their low denomination coins.

    The Treasury consultation document pointed out that 1p and 2p coins are scarcely used.

    It says that surveys suggest six in 10 of UK 1p and 2p coins are only used once before being put in a jar or discarded, while one in 12 is thrown into a bin.

    View the original article: http://www.bbc.co.uk/news/business-43407298

    http://www.bbc.co.uk/news/business-43407298

    In the same category are

    Brexit: May urges EU leaders to consider ‘serious’ UK plans Image copyright Getty Images Image caption Mrs May spoke to EU leaders for 10 minutes over dinner in Salzburg Theresa May has urged EU leaders to ...
    Young Boys 0-3 Man Utd: Paul Pogba scores two in comfortable win This was only the third time that Paul Pogba had scored twice for Manchester United in his 101 games for the clubPaul Pogba scored twice as Mancheste...
    Valencia 0-2 Juventus: Cristiano Ronaldo sent off but Italians still win Cristiano Ronaldo was sent off for the first time in 154 Champions League gamesA tearful Cristiano Ronaldo was controversially sent off as Juventus c...
    Man City 1-2 Lyon Manchester City won all three of their Champions League group games at home last seasonManchester City's Champions League campaign got off to a poor ...
    Man in Salisbury ‘illness’ hoaxed Prince Charles Image copyright Instagram Anna Shapiro Image caption A picture of the couple, posted on Ms Shapiro's Instagram account in 2015 The man who prompt...
    Westminster inquest: CCTV shows attacker’s preparations CCTV footage showing Westminster attacker Khalid Masood's final preparations has been shown at the inquest into his victims' deaths. The clips show th...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.