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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Pep Guardiola delivers gutting news as Man City are hit with Erling Haaland injury blow
Danny Jones
Pep Guardiola has passed on some gutting fitness news for Manchester City fans as star striker Erling Haaland is confirmed to be injured for several weeks and could even miss the rest of the Premier League season.
The title might be out of reach this year, and the Champions League knockout against Real Madrid was definitely hard for Blues to take, but with Man City into the semi-finals of the FA Cup, there’s still a very strong chance they could end 2024/25 with a piece of silverware.
However, they’ll have to make it through another two massive rounds at Wembley and seemingly the remainder of the season without Haaland and his goals, as the Catalan coach revealed that the club expects him to be out injured for “six to seven weeks.”
Not exactly how City fans would have wanted to see the rest of an already frustrating season play out.
🗣️ "We don't have another player with his skills."
Relaying diagnosis from the medical team, Pep said the hope is that the big Norwegian number nine could be back for the very tail end of the campaign, but at the very least, he “will be ready for the [FIFA Club] World Cup.”
He went on to add that “these kinds of things happen” and that he feels “sorry” for all of the other injuries that have befell his squad up till now, adding that they can only hope for a speedy recovery and for him to return as soon as possible.
The 24-year-old hasn’t had too many big injury problems in his career thus far, although his longest spell on the sidelines did come at the end of 2023 when a stress fracture kept him out until the new year.
This time around, Haaland suffered an injury to his ankle during the City’s FA Cup win over Bournemouth on Sunday following a challenge from defensive midfielder Lewis Cook.
He was forced in the second half and was seen leaving the Vitality Stadium on crutches after the game.
Erling Haaland seen leaving Bournemouth in a protective boot and crutches. 🤕
Having led the golden boot race for a good chunk of the season – as he’s become accustomed too since he arrived in England – City‘s sub-optimal season has seen him slink into second behind high-flying Mo Salah on 27, but he still has a couple dozen goals and a trio of assists to show for it.
Speaking of Salah, the soon-to-leave ‘Egyptian King’ has been the talisman for Liverpool this season, and his contributions could see them lift the trophy in Arne Slot’s first season as early as 13 April, depending on how fellow title rivals Arsenal fare in their next two matches.
As for how City round out their domestic campaign, reclaiming the FA Cup after last year’s derby disappointment looks like the main goal.
You can watch Pep Guardiola’s press conference ahead of the game against Leicester City at 19:45pm tomorrow (Wednesday, 2 April) in full HERE.
Hilarious study names Manchester as one of the UK’s most hungover cities
Emily Sergeant
Manchester has been named one of the UK’s most hungover cities, according to a hilarious new study.
Let’s be honest, we’ve all had one of those mornings – or a lot more than one, for many of us.
The kind where you wake up regretting ordering that last pint, or your decision to mix your drinks, questioning every life choice while desperately Googling ‘hangover cures that actually work’… but it turns out that some UK cities are way more prone to struggling with hangovers than others, and Manchester is one of them.
In a bid to uncover where in the country people are searching for hangover cures the most, alcohol-free beer brand Mash Gang has crunched the numbers and analysed more than 5.5 million Google searches across every city.
Manchester has been named one of the UK’s most hungover cities / Credit: Kraken Images (via Unsplash)
We always knew Manchester would be close to the top, but in this instance, we’ve actually just missed out on the number one spot, as our city has officially been ranked the second most hungover in the UK, just behind the ‘undisputed hungover capital’ itself, which is Birmingham.
According to the study, whether it’s the legendary Northern Quater or the city’s famous Gay Village, us Mancs are waking up with sore heads a lot more than anywhere else in the North.
While the North can often be underrepresented in top 10 lists, this doesn’t seem to be the case here, as other major cities such as Liverpool, Leeds, and Sheffield have all earned their place.
UK’s top 10 most hungover cities
Birmingham
Manchester
Liverpool
Bristol
Leeds
Newcastle
Sheffield
Plymouth
Coventry
Wolverhampton
It’s all according to a new survey finding the city with the most sore heads in the country / Credit: Mylo Kaye (via Unsplash)
On the other end of the scale, Ripon has emerged as the UK’s least hungover city, closely followed by Carlisle, which means that if you’re looking for a place to escape temptation, or to just find people who actually get up early on weekends, then you know where to head to.
As well as the top 10 list, Mash Gang’s analysis data also showed just how much people are looking for hangover solutions, as in just the past month alone, there have been 178,000 searches for “hair of the dog,” and the search term “hangover food” has been looked up 72,000 times in the same period.
On top of this, searches for ‘zebra striping’ – which is a method where people alternate alcoholic and non-alcoholic drinks to lessen the impact of drinking – have also increased by 424% in the past quarter.
Emily Sergeant -
21st September 2020 
