MP welcomes cheques move

A NORTHUMBERLAND MP has welcomed moves to try to further secure the future of cheques.

Berwick MP Sir Alan Beith set up a petition about the issue earlier this year.

Following pressure from him, other MPs and campaigners, the Payments Council agreed to drop plans to phase out the cheque in July.

Now the Treasury Select Committee has recommended that the Treasury should make provision in the forthcoming Financial Services Bill to bring the Payments Council within the system of financial regulation.

Also, all banks would have to write to customers stating that cheques will continue to be in use for the foreseeable future and the Payments Council should examine the re-introduction of the cheque guarantee card.

Sir Alan said: “Cheques have been saved, for the moment, but we need to remain vigilant.

“Getting rid of cheques would have caused a great deal of inconvenience to small businesses, charities and many of the most vulnerable people in Northumberland and I am very pleased their voices have been heard.”