The British Amusement Catering Trade Association (Bacta) has welcomed the decision by the UK Treasury not to remove any coins or notes from circulation.
Last March, UK Chancellor of the Exchequer Philip Hammond called for the reassessment of UK Currency’s ‘lowest denominations’, focusing on whether 1p and 2p coins had become ‘obsolete’.
Acting on behalf of British amusement interests, Bacta governance contributed to the treasury assessment, supporting the circulation of copper coins as an integral part of its business.
Updating stakeholders, Bacta’s CEO John White stated: “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.”