Bank of England to redesign banknotes

The Bank of England is on the brink of giving its banknotes a major facelift after more than 50 years. Since 1970, these notes have featured notable historical figures like Sir Winston Churchill, but now the public is being invited to share their opinions on new themes for the currency. This opens up the possibility of seeing British birds, bridges, or even bangers and mash on the next series of £5, £10, £20, and £50 notes.

The current notes have featured the monarch since 1960, with historical characters appearing on the reverse side starting in the 1970s. However, the Bank faced backlash in 2013 for the lack of women, aside from Queen Elizabeth II, on the notes. Now, the Bank is considering a shift towards new themes such as architecture, arts, culture, innovation, and nature. The public can also suggest their own themes, which is sure to spark some interesting debates.

According to Victoria Cleland, the Bank’s chief cashier, banknotes are not just a means of payment but also a way to symbolize national identity and celebrate the UK. She is eager to hear what themes the public would like to see represented on the new notes. While historical figures remain an option, the Bank is open to exploring a wider range of themes that are enduring and inclusive.

Banknotes in Scotland and Northern Ireland already feature landmarks and animals, while Euro banknotes showcase architectural styles. Some countries have incredibly colorful banknotes, like Bermuda’s $5 note, which won an international prize for its vibrant design featuring marine life and local landmarks.

The current series of Bank of England notes feature historical figures like Churchill, Jane Austen, JMW Turner, and Alan Turing. The public consultation for the next series, which will continue to include an image of the monarch, is open for submissions until the end of July. The final decision on the design of the banknotes lies with the Bank’s governor.

Despite the decline in cash use due to evolving payment technologies, the Bank remains committed to providing cash for those who prefer to use it. With over 4.7 billion Bank of England notes in circulation, valued at around £86 billion, the redesign of the banknotes is a significant step towards reflecting the evolving national identity and celebrating the rich history and culture of the UK.