Tag Archive: Bank of England

New Bank of England £10 note welcomed by disability forum

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The new plastic notes, featuring novelist Jane Austen, will start appearing in people’s pockets in the coming weeks after one billion were printed.

Like the £5 note already in circulation featuring Sir Winston Churchill, the new £10 banknote featuring Pride And Prejudice author Austen is made from polymer.

They’re expected to last around two-and-a-half times longer than the paper versions.

The existing paper notes, featuring Charles Darwin, are still legal tender until spring 2018. They’ll be phased out until then, but can still be spent.

The exact date will be announced at least three months in advance.

A new £20 note featuring artist JMW Turner will follow in 2020.

The Bank of England worked with the Royal National Institute of Blind People (RNIB) to build accessibility into the design of the new polymer note.

It is the first Bank of England note that contains a tactile feature to assist blind and partially-sighted users.

The tenner has two clusters of raised dots at the top left corner of the note to allow blind or partially sighted people to identify the value of the note easily.

The Bank of England will also include these features on the new polymer £20, due to be released in 2020.

This year marks the 200th anniversary of Jane Austen’s death.

Born on December 16 1775, in Steventon, Hampshire, Austen started to write short, comic stories in childhood, and her first works were published anonymously.

While her work gave her little personal fame during her lifetime, Austen’s novels started appearing on university reading lists around the start of the 20th century, with many films later exploring the themes of her writing.

Austen died on 18th July 1817.

Victoria Cleland, the Bank’s chief cashier, said: “It is wonderful to see the inspirational author Jane Austen celebrated on the new £10, and even more poignant being launched during the 200th anniversary of her death.

“I am grateful to the cash industry for their support in bringing the cleaner, safer, stronger notes to the public.”

Austen’s inclusion on the note is the result of lobbying from feminist campaigner Caroline Criado-Perez.

She threatened to take the Bank to court over discrimination when the withdrawal of the Elizabeth Frey fiver left The Queen as the only woman on UK banknotes.

After a petition and social media campaign, the bank opted for Austen.

Criado-Perez said she’d be donating her first Austen tenner to a local women’s shelter, having received death and rape threats and disgusting abuse online throughout her campaign.

The transition to polymer has sparked controversy after the Bank confirmed that an “extremely small amount” of tallow, or animal fat, was used to produce polymer pellets, which were part of the production process for creating the notes.

In August, following a public consultation, the Bank said that after “careful and serious consideration”, there would be no change to the composition of polymer used for future banknotes.

It said the only viable alternative was palm oil, but this raised questions about environmental sustainability and value for money.

Hindus dismayed over Bank of England’s “blatant refusal” to withdraw the five-pound note

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Beef-laced £5 causes outrage

Hindus worldwide are upset over Bank of England’s (BOE) blunt refusal to withdraw £5 polymer banknotes, which reportedly contained traces of tallow, despite the serious concerns raised by the Hindu community.

The £5 polymer note, featuring Sir Winston Churchill, came into circulation in September last year and contains polymer substrates rendered from beef and mutton fat.

Consumption of beef is highly conflicting to Hindu beliefs and is banned from entering Hindu religious centres. Cow, the seat of many deities, is sacred and has is venerated in Hinduism.

The Bank also recently announced that the £10 polymer banknote, featuring Jane Austen, is due to be launched in September 2017 and that the £20 polymer banknote, featuring JMW Turner, is due to be launched by 2020.

Bank of England (BOE) detailed statement, issued on 15th February, said: “The Bank has concluded that it will not withdraw the current £5 polymer banknotes from circulation and will proceed with plans to withdraw the legal tender status of the £5 paper banknotes on 5th May 2017.

It added: “BOE will continue with the proposed launch of the new £10 polymer banknotes in September 2017, using the existing polymer substrate.”

It also stated: “…it would be appropriate to keep the £5 polymer note in circulation and to issue the £10 polymer note as planned, in September.”

President of Universal Society of Hinduism Rajan Zed, said: “It’s shocking for the Hindus world over that BOE refused to respect the hurt feelings of the Hindu community and decided to continue with objectionable polymer banknotes.

“Most of the large companies world over carry out extensive research before launching a new product.

“BOE should have been wise and literate enough to look into the religious sensitivities of its consumers before investing so much money and effort into the production of polymer banknotes.”

He continued: “It appeared that Hindus did not matter to BOE in its public sector equality duty, otherwise how it could justify the negative impact the Hindu community faced with this decision of BOE.

“Moreover, what happened to BOE claim – ‘Equality, diversity and inclusion are important to the Bank and essential to the delivery of the Bank’s business strategy’?” Rajan Zed asked.

Rajan Zed urged BOE Court of Directors Chair Anthony Habgood and Governor Mark Carney to reconsider the BOE decision and stop the circulation of £5 polymer note and halt the production of £10 and £20 polymer notes.

Zed also urged United Kingdom (UK) Prime Minister Theresa May and Archbishop of Canterbury Justin Welby to intervene.