A Bradford MP is fighting to safeguard the future use of cheques.
David Ward has met Chief Secretary to the Treasury Danny Alexander to discuss the situation. And he has been told the Government has confirmed it will ensure all payment methods, including cheques, respond to customers’ needs, rather than the interests of banks.
Cheques represented ten per cent of all payments made by individuals last year – transactions totalling nearly £840bn.
The Government is now taking steps to secure the long-term future of cheques, including speeding up payments and making it easier for individuals and small businesses to use this payment method.
Mr Ward (Lib Dem, Bradford East) said: “The ability to pay by cheque is vital for my constituents and businesses in Bradford and I welcome the Government’s recognition of this.”