Fred Mackintosh and Tavish Scott fighting for fivers in cash machines

5.06.54pm GMT Thu 17th Dec 2009

The Liberal Democrats in Edinburgh South are campaigning to get more bank machines in Scotland to dispense £5 notes. The campaign aims to give individuals and small businesses greater control over their own money, helping them to save and better manage their own finances.

Edinburgh South Westminster Spokesperson Fred Mackintosh said, "When home finances are tight giving people the opportunity to get a fiver out of the cash machine would give people on low incomes more control over their own money. Every cash machine is already able to dispense £5 notes. They only reason this facility is not used as banks would need re-fill them more often."

The Governor of the Bank of England, Mervyn King, has repeatedly called for banks to do more to introduce £5 notes into circulation

Fred was joined by local MSP Mike Pringle and Scottish Liberal Democrat leader Tavish Scott in Morningside Road to launch the campaign. Commenting, Tavish Scott said: "Liberal Democrats believe that people should have better access to their own money.

"Being able to withdraw £5 instead of £10 every time from a cash machine would be a real help to individuals, families and small businesses all feeling the pinch in Labour's recession. This is not a big ask of our multi-billion pound banks. It is a small gesture that would go some way to help restore their tarnished reputations.

"Scotland's biggest banks are now majority owned by the taxpayer. I think it is about time they did something to support the hard working individuals that bailed them out."

There are currently only 45million £5 notes in circulation in the UK. This compares with 155million £20 notes and 133million £10 notes. It is estimated that the average bank note has a lifespan of only 2 years.

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