Copper coins are about more than just money according to executive secretary to the Treasury, Robert Jenrick as he pledged to preserve Britain’s historic pennies amidst misplaced calls for them to be scrapped.
They say that if you look after the pennies the pounds look after themselves and this has been echoed by Britain’s treasury. The classic symbols of British currency, and of the UK amusements sector, will have their future safeguarded “as long as the people cherish it” according to Jenrick, who added that pennies are “more than a unit of currency” but are in fact “a metaphor for enduring strength and continuity”.
Worrying reports that one and two pence pieces were to be scrapped appear to have thankfully been laid to bed, with calls for the removal of the coins now being ratified as preemptive at best.
“The UK has been fast to adopt cashless payments. Alternative methods of payment are growing rapidly… but that does not mean cash is going away. Across the UK, 2.7million people are still entirely reliant on cash,” he said.
Whilst a truly cashless society may one day be a reality, eyes should not be cast too far forward any time soon, according to Jenrick.
“Cash will continue to play an important part in the lives of many people and businesses for many years to come. We need to ensure the availability of cash is protected, particularly in rural areas and for the vulnerable and those hard to serve, as demand for cash declines.”