It's 'cash only' UK

0 Comments | Sunday Mirror, Nov 2, 2008

PEOPLE are hoarding cash because of the credit crunch, new figures show.

The number of pounds 50 notes in use has jumped by 20 per cent - and experts expect the figure to keep growing.

Nick Buckles, of security transport company G4S, said: "The amount of cash around always increases in tough times.

"People use it as a means of budgeting. They don't like credit, so there's more ATM transactions.

"And I guess the pounds 50 note issue is people hoarding cash at home."