The Bank of England is planning a major redesign of their banknotes, the first in over 50 years.
Since 1970, the banknotes have featured notable historical figures, such as Sir Winston Churchill on the current £5 note. However, the Bank is now considering new themes, including nature, innovation, and key events in history, and is seeking input from the public.
This could potentially lead to the inclusion of British birds, bridges, or even bangers and mash on future banknotes, in addition to the traditional images of the monarch and historical figures.
The Bank has faced criticism in the past for the lack of diversity on their banknotes, with only Queen Elizabeth II being featured alongside historical figures. Now, they are open to suggestions for new themes, such as architecture, art, culture, and sports, as well as noteworthy events and innovations.
The public is encouraged to share their views and suggestions, with the Bank’s chief cashier stating that banknotes are not just a means of payment, but also a representation of the nation’s identity and an opportunity to celebrate the UK. However, there are considerations such as accessibility and security features that must also be taken into account.
The final decision on the new banknote designs will be made by the Bank’s governor, with the public consultation ending in July. With over 4.7 billion Bank of England notes currently in circulation, the Bank remains committed to providing cash for those who choose to use it, despite the decrease in cash transactions due to evolving payment technology.