UK Government confirms 1p and 2p coins will stay in circulation
BACTA (The British Amusement Catering Trade Association), has expressed its approval of the government’s recent announcement, where Chancellor Philip Hammond confirmed that no coins or notes will be withdrawn from circulation.
Last year, BACTA successfully challenged the government’s decision to scrap our lowest denominations in the UK. The Treasury’s spring statement called for the reassessment of the lowest denominations, calling the coins “obsolete.” However, after an immediate response from BACTA and operators across the country, the government reassured the industry that copper coins will not be removed from circulation.
BACTA CEO, John White, commented:
“Coastal arcades across the country can now breathe a collective sigh of relief. The removal of our smallest denominations would have a devastating impact on seaside arcades that stimulate local economies and tourism. BACTA has been instrumental in the public call for Treasury to rethink the removal of our coppers from circulation.
2p pushers are a British pastime that many remember fondly from childhood, they can be found across hundreds of arcades across the coast. Removing the 2p coins would have led to the extinction of the arcades that house these machines and the resorts who depend on them. We’re pleased that government has opted not to scrap our lowest denominations.
Arcades are the economic engine rooms for often poor coastal communities, the removal of 2ps would have placed increased pressure on an industry already facing tough conditions, particularly in areas of the country where the support and investment is most needed. We welcome any decision that supports businesses and local tourism in seaside towns.”