New plas­tic £50 note has been an­nounced

Wales On Sunday - - NEWS -

THE £50 note will re­main part of UK cur­rency af­ter a “new, more se­cure” ver­sion of the high­est-value note was an­nounced.

It will be printed on thin, flex­i­ble poly­mer af­ter the Turner £20 note is is­sued in 2020, the Bank of Eng­land said yes­ter­day.

The last crop of fifties was in­tro­duced in 2011 and its fu­ture was un­cer­tain af­ter con­cerns were raised about it be­ing used for money laun­der­ing and tax eva­sion. But The Trea­sury said the next batch will scup­per crim­i­nals by be­ing much harder to forge.

A de­ci­sion over what char­ac­ter will adorn the note will be made fol­low­ing pub­lic sug­ges­tions.

First in­tro­duced in 1981, there are cur­rently 330 mil­lion £50 notes in cir­cu­la­tion, with a com­bined value of £.5 bil­lion, the Trea­sury said.

The Ex­che­quer Sec­re­tary to the Trea­sury, Robert Jen­rick, said: “Our coins and notes are re­spected and recog­nised the world over and are a key part of the UK’s her­itage and iden­tity.

“Peo­ple should have as much choice as pos­si­ble when it comes to their money, and we’re mak­ing sure that cash is here to stay.

“Our money needs to be se­cure and this new note will help pre­vent crime.”

Poly­mer is cleaner, more durable, and al­lows for ex­tra se­cu­rity fea­tures, the Bank said, adding they are bet­ter for the en­vi­ron­ment as they last around 2.5 times longer than the pa­per equiv­a­lent.

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