10:18 19 December 2013
The Bank of England will bring in plastic bank notes, which are durable enough to withstand a spin in the washing machine, into circulation in 2016 replacing traditional paper notes.
The bank said that the new note that will be produced from a thin, transparent, and flexible film made of polypropylene, stay cleaner and are more secure when compared to cotton paper notes.
The £5 note featuring Sir Winston Churchill will be the first plastic banknote.
Mark Carney, governor of the Bank of England, said: "Ensuring trust and confidence in money is at the heart of what central banks do.
"Polymer notes are the next step in the evolution of banknote design to meet that objective. The quality of polymer notes is higher, they are more secure from counterfeiting, and they can be produced at lower cost to the taxpayer and the environment."
In September, the Bank of England has conducted a survey to get the public’s view. It visited various shopping centres in the country and got feedback from nearly 13,000 people. According to the bank, 87per cent were in favour of polymer, 6per cent were opposed, and 7per cent were neutral.
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