Imelda Munster (Louth, Sinn Fein) | Oireachtas source

Because of how precious cash can be during times of financial stress, many have said that cash is king. This phrase means that having liquid funds available can be vital because of the flexibility it provides during a crisis. It does not have to be a crisis, however. It can be as simple as granny slipping a few coins or, if they are lucky, a fiver into her grandchildren's hands with the phrase, "Buy yourself some sweets." Cash is the only form of money that citizens can hold without the involvement of third parties or access to broadband, electricity or equipment. By God, we are some way off rural Ireland being reliably covered by adequate broadband service. If the strain on our electricity grid becomes too much at some point, and there are many warnings this might happen, and the power goes down, how do you access your money? If you are on a night out with cash in your pocket, you know how much you are spending. You can track it and you can stick to your budget for that night much more easily than if you were tapping for everything. It is simple, easy to use and you know how much you have. Why make life more complicated by taking away the option of using it?

We must also think of the victims of coercive control and domestic violence. Abusers can have far more control if they only need to take away one bank card. On lists put together to assist victims of domestic abuse to prepare to leave, the advice is always given to try to set aside a small amount of money each week, if at all possible. Access to cash is vital in all of these circumstances.

Despite widespread commentary regarding the move to a cashless society, most consumers value having cash, with its importance even more critical for particular cohorts, including the elderly and low-income households, for whom the use of cash is not a choice but a necessity. For my own part, I have recently requested that the Joint Committee on Tourism, Culture, Arts, Sport and Media write to the GAA to ask it to review its cashless policy and to allow loyal supporters, young and old, many of whom have attended games for decades, to use cash to make purchases. However, the central point of all of this is that cash is legal tender. To agree that there is anywhere it cannot be used is to deny that cash is legal tender. Let us protect cash now so that it does not become an issue later on.

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