The Bank of England’s plan to change the look of banknotes has caused anger amongst some. A public consultation has been launched to determine “themes” for future circulations in a move that could see historical figures such as Sir Winston Churchill removed.
The decision to consider the removal of the wartime leader and others has caused consternation in some quarters, with the move branded “woke”. Ex-Business Secretary Sir Jacob Rees-Mogg fumed: “The Bank of Wokeness wants to ignore our history and heroes to model itself on the unutterable banality of euro notes.
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“It shows a lack of confidence in the nation and a supine kowtowing to the gods of political correctness.”
Shadow Communities Secretary Kevin Hollinrake added: “This is wrongheaded wokery. We should be proud of our history, not sideline it.
“Replacing historical figures with abstract themes risks erasing the rich, complex story of how our country has evolved.
“Diversity is incredibly important, but we should achieve it by widening the range of historic figures we honour, not by abandoning them altogether.”
The figures on bank notes change periodically with the public now being invited to consider the introduction of other notable figures to appear on cash.
Victoria Cleland, the Bank’s chief cashier, who has her signature appear on notes, said: “Banknotes are more than just an important means of payment. They serve as a symbolic representation of our collective national identity and an opportunity to celebrate the UK.
“I am really keen to hear what themes the public would like to see represented.”
Alongside Churchill on notes currently in circulation is Jane Austin, Alan Turing and JMW Turner.
The final decision on who would appear on any new cash circulations lies with the governor of the Bank of England.
There are currently more than 4.7 billion Bank of England notes in circulation worth an approximate £86bn.
However the use of cash is on the decline, with physical money making up just 12% of transactions thanks to the increase in use of technology to pay for goods and services.
