(qlmbusinessnews.com . Wed 2nd Jul, 2025) London, UK —
From Churchill to Bangers and Mash: The Future of the UK's Banknotes Unveiled
The Bank of England is set to undertake a significant transformation of its banknotes, marking the most considerable change in design the institution has seen in over half a century. With prominent figures like Sir Winston Churchill currently adorning the £5 note, the era of historical luminaries featured on the UK's currency since 1970 may be drawing to a close. The Bank is reaching out to the public for input on potential new themes for the currency, which could range from celebrating Britain's natural beauty to commemorating innovation and landmark historical events.
This opens up the intriguing possibility of the nation's next series of banknotes – encompassing the £5, £10, £20, and £50 denominations – showcasing everything from British wildlife and architectural feats to cultural staples like bangers and mash.
Since 1960, the visage of the reigning monarch has been a constant on Bank of England notes, with historical figures making their debut on the reverse side in the subsequent decade, beginning with William Shakespeare. Choices in the past have occasionally sparked controversy, notably the 2013 outcry over the lack of women (other than Queen Elizabeth II) featured on the currency.
In a move to refresh the design, the Bank has proposed several thematic directions for the new series of notes, including architecture and landmarks, arts, culture and sport, significant historical moments, innovation, and nature. The public is not only invited to share their views on these themes but also to propose their own, potentially sparking humorous and spirited discussions.
“Banknotes represent more than a means of payment; they are a symbol of our national identity and a celebration of the UK,” remarked Victoria Cleland, the Bank's chief cashier. Cleland expressed eagerness to understand which themes resonate most with the public, describing banknotes as “little pieces of art in our pocket.” However, she noted that any new design would need to incorporate essential accessibility and security features.
While the Bank remains open to continuing the tradition of featuring historical figures, Cleland highlighted a desire to broaden the scope of potential themes, ensuring they are both enduring and unifying.
Banknotes in Scotland and Northern Ireland already feature a variety of images, including landmarks and native wildlife like otters. By contrast, banknotes from around the globe can be remarkably vibrant, with the Bermuda Monetary Authority's predominantly pink $5 note being named last year's International Bank Note Society's banknote of the year.
The current series of Bank of England notes is graced by Churchill, Jane Austen, JMW Turner, and Alan Turing, each representing different denominations. The forthcoming series will continue to include the monarch while potentially embracing a new thematic direction based on public feedback. Submissions can be made via the Bank's online form or by post until the end of July, with the Bank's governor having the final say on the designs.
Despite the decline in cash transactions to 12% amidst evolving payment technologies, the Bank of England affirms its commitment to providing cash for those who prefer it, with more than 4.7 billion notes, valued at approximately £86bn, currently in circulation.
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