I expect if they try this here, that it will be sold as a policy to fight crime. We will be told that drug dealers and other assorted criminals deal with briefcases full of cash, and that if cash is phased out, it will put the criminals out of business.
I.don’t believe it will put criminals out of business but I believe a shift to a debit card/credit card only economy will be sold to us that way.
Over there, it is a way to attack the widespread tax fraud. Of course, smart folks can figure out ways around that.
And to counter the ‘cost’ to coin, print, transport, etc. currency.
And to fight counterfiting.
And because the 1% has it all (like Scrooge McDuck).