Treasury Select CommitteeAndrea LeadsomOffice of the Rt Hon. Andrea Leadsom MPTreasury Select Committee, TSC, Richard North, UK Payments Council, cheques, SME, Sandra Quinn

Cheques Saved

Treasury Select CommitteeAndrea LeadsomOffice of the Rt Hon. Andrea Leadsom MPTreasury Select Committee, TSC, Richard North, UK Payments Council, cheques, SME, Sandra Quinn
Cheques Saved

I am absolutely delighted that Richard North, the Independent Chairman of the UK Payments Council, has said that following extensive consultation and their appearance before our Treasury Select Committee, the Council has concluded that the cheque is staying.

This is fantastic news for consumers across the country, but particularly elderly banking customers as well as the charitable sector and SMEs. It was unconscionable that the Council was considering withdrawing cheques without due consideration for value-for-money of any replacement, or even what the replacement would be.

In June, when we heard evidence from representatives from the Council, I focused on questioning Mr North and Sandra Quinn, Director of Communications, about the impact of the withdrawal of the cheque guarantee card scheme on charities and vulnerable people, and the overall importance of cheques to the wider society.

I was dissatisfied with their responses, and their cavalier attitude toward how necessary cheques are to so many people. You can watch my exchange below.

Treasury Select CommitteeAndrea LeadsomOffice of the Rt Hon. Andrea Leadsom MPTreasury Select Committee, UK Financial Investments Ltd, Robin Budenberg, James Leigh-Pemberton, RBS Group, Royal Bank of Scotland Group, Lloyds Banking Group, UKFI, TSC

Public Ownership of Banks

Treasury Select CommitteeAndrea LeadsomOffice of the Rt Hon. Andrea Leadsom MPTreasury Select Committee, UK Financial Investments Ltd, Robin Budenberg, James Leigh-Pemberton, RBS Group, Royal Bank of Scotland Group, Lloyds Banking Group, UKFI, TSC
Public Ownership of Banks