Submitted on Monday 11th March 2024
Rejected on Wednesday 27th March 2024
Current status: Rejected
Rejection code: already-happening (see below for details)
Allow Gold & Silver to be legal tender/currency in the UK
Amend Article 2 of 'The Exchange Control (Gold and Foreign Currency) (Exemption) Order 1979' to remove the prohibition of using gold and silver as payment for products/services; as well as any other corresponding legislations that go against this request.
The reintroduction of gold and silver as legal tender/currency will assist in combating inflation as it will maintain a consistent value year on year. It will also help boost trading with other countries, increasing the UK's rate of development. Additionally, it will allow the circulation of money to flow through the economy which will greatly aid in reducing homelessness, unemployment rates, crime and many other detrimental factors affecting the UK.
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The Government e-Petitions Team gave the following reason:
Gold and silver can already be used for transactions, and the Exchange Control (Gold and Foreign Currency) (Exemption) Order 1979 does not prohibit this. It is up to individual businesses whether to accept gold and silver for transactions.
3.133.112.171 Tue, 05 Nov 2024 16:47:18 +0000
