George Osborne wanted to SCRAP 1p and 2p coins before phasing out cash altogether : Express.

AN ATTEMPT by former Chancellor George Osborne to scrap copper coins was vetoed by David Cameron, it has emerged.

George Osbrone

George Osborne wanted to scrap 1p and 2p coins before phasing out cash altogether
The former Prime Minister is understood to have said that getting rid of 1p and 2p coins would be “damaging” for the Tories when the idea was put forward in 2015 before he resigned.

The proposal was drawn up by former Downing Street policy adviser Daniel Korski ahead of the 2015 Tory party conference and was part of plans to phase out cash altogether by 2020.

Mr Osborne argued for the move believing that it would be a “modernising change”.

The change was in the same mold as Mr Osborne’s scrapping of the vehicle licence disc and instead ensuring that registration moved on to digital databases.

Instead of going “cashless” the UK has introduced a new pound coin design and stuck with smaller value coins.

Mr Korski said: “The proposal we developed was to move towards a totally cashless society.

Read More : Daily Express.

Advertisements

1 Comment

  1. “Mr Korski also claimed that a “hell of a lot of cash was in circulation fuelling the criminal economy”.”

    Then he realised most of the criminals were in the Houses of Commons & Lords…lol

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s