HM Treasury Explains the Purpose of Central Bank Digital Currencies in UK Parliament

Danny Kruger, MP asked James Bowler, Permanent Secretary of HM Treasury, to explain the purpose of CBDCs in UK parliament a few months ago.

HM Treasury are rolling out plans for CBDC on the UK public.
https://committees.parliament.uk/work/1504/central-bank-digital-currencies/

James Bowler's answer:
"Look. Umm what's it for? It's ... it's to ... keep track with the reality of how we all umm, we all umm, purchase and save and, and do our umm work with our goods umm aaaahh and umm you know, I think your report said that we should proceed with caution. Umm, and, you know, the government is proceeding I think with caution. There's a number of umm issues around privacy, financial inclusion, aahh where there's limits, monetary policy, and interest and the consultation is out on that and you'll hear more about it".

VIDEO SOURCE: https://x.com/Togetherdec/status/1793197608753664385