Bank of England Boss Flashes Plastic Bank Note Plan

By Gary Cutlack on at

The new boss of the Bank of England is considering introducing plastic or polymer bank notes to the UK, with the new notes featuring the same designs as the current paper versions but reduced in size a little to make them more pocketable.

The plan is to consult with the public ahead of any decision. If we all sort of agree or at least don't complain about it too hard, a final decision on the introduction of polymer pound notes will be taken in December. There's a full explanation of the perceived benefits up on YouTube, where a nice man folds them endlessly to illustrate their enhanced durability.

BofE governor Mark Carney has form in this area. He brought plastic bank notes to Canada in 2011 when he was head of the Canadian central bank, a move which apparently saw a pretty large drop in counterfeiting of notes. [BofE via Reuters]