Submitted on Friday 11th November 2011
Published on Monday 14th November 2011
Current status: Closed
Closed: Tuesday 14th February 2012
Signatures: 1
Tagged with
Economy ~ UK ~ UK economy
Limit cash transactions to decrease the black economy
Make cash transactions above (say) £250 illegal.
In this day and age, there is no reason to use cash for anything other than very low value transactions.
This would mean that all sizeable transactions would be auditable via the banking system, and therefore would limit the size of the black economy.
The black economy is estimated to be 8-10% of the UK economy.
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