PENNIES are set to stay, as the Government announced there will be no change (no pun intended) to our money.
There were fears that 1p and 2p coins might be scrapped, as people increasingly use cards instead of cash to pay for things. This worried some people, especially charities, who said it would stop people donating.
Chancellor Philip Hammond has now announced that the Treasury won’t be getting rid of the coins and is supporting the use of physical money. He said that while technology has made banking easier and quicker for lots of people, “it’s also clear many people still rely on cash and I want the public to have choice over how they spend their money.”
The Treasury says that about 2.2 million people in the UK are reliant on cash.