Australia’s Black Economy Taskforce has come up with a list of 35 “consumer-focused” proposals to crack down on cash. The taskforce blames consumers for holding cash and for not getting receipts.
Michael Andrew, the head of the taskforce, proposes nanochips in $50 and $100 notes so the government knows where the cash is, and suggests that cash should expire after a designated period of time.
Andrew believes “consumers are part of the problem”. He wants to punish people who pay in cash and don’t get a receipt. Continue reading