SD and M calls meeting about the future of cash

The rise of technocracy

Published 4 September 2023
- By Editorial Staff
Minister of Finance Niklas Wykman (M).

Yesterday, Minister of Financial Markets Niklas Wykman of the Moderate Party (M) and Member of Parliament Dennis Dioukarev of the Sweden Democrats (SD) invited representatives from the food and fuel industries to discuss the role of cash in society and the economy.

According to the political representatives, the purpose was to “discuss the extent to which cash is accepted today, what developments can be expected in the future, and the need for possible measures”.

The government itself claims that in recent years it has, together with the Swedish parliament, “taken several measures to ensure the availability of cash and the necessary services related to it” – including requiring the largest banks to provide cash services. However, the use of cash continues to decline and an increasing number of businesses have stopped accepting cash payments.

– The development of cash use in Sweden raises several important questions. It is therefore justified to bring together different stakeholders to discuss the role and future of cash in society and to hear their perspectives on the various challenges of the issue, says Wykman.

“We do not want a cashless society”

The Sweden Democrats’ position is that “cash is legal tender” and that “there should therefore be a minimum level for what you can pay with legal tender”, which they want to ensure.

According to the Sweden Democrats’ press service, however, the SD will most likely not demand that cash be accepted as a means of payment everywhere.

– I don’t think our approach is that everyone should accept cash everywhere, I don’t think so. The idea is to discuss it and look at what the needs are and what they look like.

– Our approach is that we want to keep cash. We do not want a cashless society, but we want to keep cash for a number of reasons, they say.

What political demands – if any – will be made to stop the abolition of cash is therefore unclear at the moment and is currently being discussed with the various stakeholders.

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