“Polymer notes can survive a splash of claret, a flick of cigar ash, the nip of a bulldog, and even a spin in the washing machine afterwards to boot”, he said at the presentation of the new banknote at Blenheim Palace, Churchill’s birthplace in Oxfordshire.
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The new £5 note featuring Winston Churchill will be unveiled by the Bank of England (BoE) on Thursday (2 June), with the new banknote set to enter circulation in September this year.
No plans to make a plastic £50 note have been announced, although it seems inevitable given the current progression of Britain’s banknote changes.
Polymer notes last two-and-a-half times as long as the old notes and will save the Bank up to £100m in replacement costs. Jane Austen will feature on the new £10 note.
“By adopting polymer, we’re aligning with global best practice, alongside Australia, New Zealand and Canada”, Bank of England Governor Mark Carney said in a statement.
“Churchill’s contributions extend beyond his pivotal roles in the nation’s martial and political histories”, Carney said.
Churchill’s gruff likeness on the new note is taken from Yousuf Karsh’s famous 1941 portrait of the wartime leader.
An online petition signed by more than 36,000 people had hoped to block Sir Winston replacing social reformer Elizabeth Fry as it meant no women, other than the Queen, would have been represented on English banknotes.
Plastic notes are already used in more than 30 countries, including Carney’s native Canada, Australia and Singapore.”As Churchill did, we may have to wait a while for the Americans to join up”, Carney said.
Mark Robertshaw, chief executive of Innovia Group, said “We are delighted to be working with the Bank of England to launch The New Fiver on our technologically advanced polymer”.
A see-through window featuring the Queen’s portrait.
His wife Sue added: “I like the feel of it but I think it’ll be tricky separating it when you’re in the queue trying to get them out of your purse”.
The technology used in their manufacture also means they can incorporate stronger security features, although the governor stressed the United Kingdom has “a very low rate of counterfeiting”.
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What’s so good about the new notes?
