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Limit cash transactions to decrease the black economy

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

Petition Action

Limit cash transactions to decrease the black economy

Additional Information

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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