A public spending watchdog has stated that around £50 billion worth of banknotes in UK circulation are currently unaccounted for.
What does this mean though?
Well, in simple terms, this means that there’s a heck of a lot of money out there and no one actually knows where it is.
It could be in the pockets of a pair of jeans not warn in a while, at the bottom of a handbag, stashed down the side of the sofa, or even placed into overseas holdings, but it for sure isn’t being spent in shops or kept in savings accounts.
The National Audit Office (NAO) – the watchdog that made the claim – said that little is known about the massive amount of cash and there’s even suggestions that it might be being held for use in the “shadow economy”, which includes, but is not completely limited to, money that comes from illegal endeavours.
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At present, there is little reliable information to quantify how much is likely to be held where.
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Five public bodies – the Treasury, the Bank of England, the Royal Mint, the Financial Conduct Authority (FCA) and the Payments Systems Regulator (PSR) – play a role in administering or overseeing the cash system.
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The NAO said that a “fragmented” approach is being taken by these bodies and a co-ordinated effort is needed.
Gareth Davies – the head of the NAO – explained to The Metro that: “As society progresses towards the wide use of digital payments, the use of cash in transactions is dwindling.
“It may become harder for people to access cash when they need it and those without the means to pay digitally will struggle if cash is not accepted.”
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He continued: “HM Treasury now works more closely with the public bodies in the cash system to achieve the Government’s goal of safeguarding access to cash, however the approach is fragmented, and it is not clear that the action being taken will keep up with the pace of change.”
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It comes after it was announced last week that the Royal Mint has no plans to produce new 2p or £2 coins for at least 10 years, with the NAO saying it could take at least a decade for current stocks of the coins to run out.
Coin production shrank by 65% in the last decade to 383 million UK coins a year in 2019-20, from around 1.1 billion in 2010-11.
The NAO also said that it is likely the coronavirus (COVID-19) pandemic has potentially accelerated the decline.
Industry data suggests market demand for notes and coins from cash centres plunged by 71% between early March and mid-April, however cash use appears to have been recovering more recently as businesses have re-opened.
The NAO said older people and those on low incomes are particularly likely to rely on cash.
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Salford City FC reveal new club crest ahead of return to orange kit
Danny Jones
Salford City FC have finally revealed their new club crest, paying homage to both their historic and present badge, as they prepare to wear predominantly orange kits once again.
The Greater Manchester club are enjoying a healthy injection not only of investment but ideas and, indeed, a decent bit of form in turn.
Currently sitting sixth in the League Two standings and looking more than capable of scrapping with other third division hopefuls around them in the table, the end of this season could be the start of a fresh chapter for the Salford sporting institution.
Regardless of whether they go up following the conclusion of this campaign or not, the newly restructured ownership group is certainly looking to make this the start of a new era.
Officially debuting the new Salford City badge in the teaser video shared above on Tuesday, 23 December, you could call it an early Christmas gift for Ammies supporters.
Writing on social media, the club said: “Our heritage. Our culture. Inspiring our future. From next season, Salford City FC will adopt a bold new identity, playing in orange with a new Club crest.
“Following recent consultations, 72% of fans voted to adopt this new Club crest from the start of the 2026-27 season.”
A lengthier statement continues: “The new Crest comes after extensive consultation with fans over the past several months.
“It was designed in conjunction with renowned NYC-based agency MILK, and in recent weeks, fans have heard from co-owners Gary Neville and Sir David Beckham about the potential opportunities the new crest can offer the Club – from building our fan base globally to exciting new merchandise products.
This latest unveiling comes after confirmation of the club reverting to an orange-led colour scheme and home shirt.
In addition to hinting at plans to once again upgrade the Peninsula Stadium, the official club statement also digs into the inspiration behind the various features included in the latest redesign.
They are as follows:
A rampant Lion that has featured on crests of the past, breaking out of the badge, refusing to be contained. It captures the fierce, on-field attitude expected from a Salford team. Relentless in the pursuit of success, never held back.
A new Salford rose, inspired by the iconic Salford Lads Club, symbolises enthusiasm, desire, passion and admiration.
Concentric circles represent a bird’s eye view of the Salford Gasworks.
A typeface crafted from the custom lettering found in Salford’s streets.
You see a more detailed breakdown of the thought process behind the various features down below; it does make for an interesting little read.
Credit: Salford City (via club website)
Salford famously switched to red when Manchester United’s ‘Class of 92’ legends bought the club in partnership with businessman Peter Lim well over a decade ago.
Despite the initial takeover seeing the struggling side find their way back into the EFL following multiple promotions, The Ammies have lost momentum in recent years, and many die-hard matchgoers still take issue with the colour change (the notion being that they were reborn in the shadow of Man United).
Fast forward to now, and they reiterated that the plans – which follow the aforementioned official consultation held earlier this year – will see new insignia installed in time for next season, not only on the latest batch of kits but around their soon-to-be further renovated home ground.
With Salford‘s rugby league community also set for its next iteration as of the 2026 season, it’s all change in Greater Manchester’s second city.
Top 10 most disliked Christmas foods revealed – and sprouts aren’t number one
Emily Sergeant
If there’s one thing for certain, a lot of food gets consumed at Christmas.
Foodies look forward to the festive season all year long, and it’s not hard to see why, as for many people, Christmas is just as much about the food as it is anything else, especially as shops and supermarkets tend to go all out with the festive feasting specials – with treats stacked top to bottom on the shelves.
Think turkey, roast potatoes, chocolate, mince pies, and so much more everywhere you look.
But surprisingly, a few of those foods are actually among the most disliked by the younger generations once the festive season rolls around.
A new poll by of 2,000 adults who celebrate Christmas, carried out by Aldi, has found that those born in 1996 or later are apparently “turning their back on” traditional favourites in favour of festive dishes with some sort of “modern twist”.
The top 10 most disliked Christmas foods have been revealed / Credit: Mika Hermans (via Pexels) | GoodFon
Of the traditional favourites, Christmas pudding is one of the least-loved festive foods, along with Christmas cake and trifle – with more than half (56%) of respondents describing them as “dated”.
Despite what many would expect though, number one on the list is not the usual scapegoat of sprouts, as instead it’s mince pies that take the top spot, with the little green vegetables coming in fifth place just behind cranberry sauce at four, Christmas cake in third, and Christmas pudding at two.
Top 10 most disliked Christmas foods
Mince pies – 31%
Christmas pudding – 29%
Christmas cake – 25%
Cranberry sauce – 25%
Brussels sprouts – 24%
Bread sauce – 22%
Chestnuts – 21%
Brandy butter – 20%
Turkey – 20%
Trifle – 19%
So, what else would the youngsters like to see on the festive menu instead then?
According to the poll, he likes of loaded fries, crispy fried chicken, and even pizza are just a few of the things that Gen-Z would most like to be at the table for Christmas dinner this year, whilst cheesecake (33%), chocolate gateau (29%), and ice cream (25%) are among the preferred festive desserts in place of Christmas pudding and Christmas cake.
Additional research from the supermarket found that the main reasons Brits would like to change up Christmas dinner is to fit personal taste preferences better (34%), or to be more inclusive for dietary restrictions (27%).
26% said they want to switch things up just to be more exciting or adventurous in general.
Emily Sergeant -
21st September 2020 
