In the BBC review, some of the comments from the audience research on the topics of tax and public debt are particularly eye-opening.
Abolishing cash altogether Given that the limitations in the use of negative rates as a monetary policy tool ultimately stem from the ELB, some economists have entertained even more radical proposals such as: to tax cash to lower the ELB or to eliminate the ELB by abolishing currency altogether.46 These would reduce or remove the arbitrage opportunity to escape negative rates by substituting deposits for cash.