If you listen carefully you can probably hear the whole of middle England breathe a collective sigh of relief. Plans to abolish cheques in 2018 have been shelved announced the Payments Council yesterday.
Instead of axing the trusty cheque on 31 October 2018, the council has said that they will remain available ' as long as customers need them.' The volte-face has been described by MPs as 'a victory for Middle England', wherever that is.
'Over the last two years we have learnt a great deal about what is important to our many stakeholders and we are really grateful to all of those groups and individuals who took the time to talk to us and help us reach a decision.
'We will use what we’ve learned to keep improving existing systems, as well as introducing innovation, so that customers benefit from 21st century ways to pay. Innovation must be at the heart of what we do.'