Treasurer Jim Chalmers has reassured Australians they won’t lose access to cash as Linfox’s Armaguard faces financial problems, after he and Prime Minister Anthony Albanese held crisis talks with the cash distribution company.
The government wants Armaguard, together with the country’s major banks and retailers, to work out a private-sector solution to mounting losses for the cash distribution industry caused by a plunge in the use of cash by consumers.
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Tom McIlroy was the Financial Review’s Canberra bureau chief.
James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years. Email James at jeyers@afr.com.au
