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Politicians want to move us towards a cashless world. It would be a disaster

25 November 2017

9:00 AM

25 November 2017

9:00 AM

What could be more terrifying than a return to the 15 per cent interest rates with which homebuyers had to contend in the early 1990s? Possibly the vision presented last week in UBS’s Global Economic Outlook: interest rates at minus 5 per cent. It would take us to an unknown world where savers who deposited £100 in a bank would return a year later to find only £95 left.

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