Why you can never be paranoid enough: Downing Street's plans to complete the war on cash

When we talked of the “war on cash” many accused us of being paranoid. But Downing Street’s plans for a cashless society went far beyond what we feared, says Merryn Somerset Webb.

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Abolish cash and the state can take interest rates as negative as it likes
(Image credit: 2017 Getty Images)

Last year, MoneyWeek wrote quite a lot about what we called the "war on cash" the way in which central banks and governments seem determined to stop us using actual cash for any transactions at all.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.