2017-07-03 Mon

George Osborne was almost going to scrap 1p and 2p coins from the UK in late 2015 when he was a Chancellor or the Exchequer, but it was not allowed by David Cameron.

Copper coins are more expensive to produce and people dislike them. When one and two cent coins were scrapped in Australia, charities started protesting against the decision since the general people used to donate a lot of spare change. Mr Cameron did not want the Tory party to scrap small change completely since it would affect their image. There are plans to completely stop cash transactions by 2020 to improve productivity and reduce criminal activity. The idea was not implemented as the No10 thought that it would scare people.