Bank of England's Plan to Revamp Pound Banknotes Sparks Backlash

(MENAFN) The Bank of England's (BoE) initiative to revamp pound banknotes with a focus on diversity has sparked strong opposition from politicians and members of the public, who are criticizing the plan as an example of "wokery."

On Wednesday, the BoE revealed it had launched a public consultation to explore potential themes for the next series of banknotes.

"Our banknotes have celebrated notable historical figures since 1970, when William Shakespeare became the first person other than the monarch to feature on a banknote.
However, there are many ways to represent the UK," the Bank stated in an official announcement.

Currently, the reverse side of the UK’s banknotes features portraits of significant historical figures: wartime Prime Minister Sir Winston Churchill on the £5 note, novelist Jane Austen on the £10 note, artist J.M.W. Turner on the £20 note, and mathematician Alan Turing on the £50 note.

The BoE is encouraging the public to submit ideas for themes that may include nature, architecture, landmarks, culture, sports, innovation, and national milestones. While there will still be a place for historical figures, each note will continue to feature the reigning monarch’s portrait.

Victoria Cleland, Chief Cashier at the Bank of England, emphasized that the banknotes “serve as a symbolic representation of our collective national identity and an opportunity to celebrate the UK.” She added that the new designs may take into account “real diversity,” encompassing gender, ethnicity, and disability.

However, Cleland’s remarks have drawn strong criticism, especially from Conservative MPs.
“This is wrongheaded wokery. We should be proud of our history, not sideline it,” said Shadow Communities Secretary Kevin Hollinrake. Former Business Secretary Sir Jacob Rees-Mogg also condemned the move, stating, “The Bank of Wokeness wants to ignore our history and heroes to model itself on the unutterable banality of euro notes.”

Some critics on social media went even further, accusing the BoE of launching an "assault" on British heritage and culture. A number of users suggested that controversial author J.K. Rowling—who has faced backlash over her views on gender identity—could be a potential candidate for a new note design.

The Bank of England periodically releases new banknotes to reflect various factors, including security and durability. The most recent series, rolled out between 2016 and 2021, marked a shift from paper to polymer notes, enhancing both their strength and safety features.

The consultation will remain open until the end of July, with the final decision ultimately resting with BoE Governor Andrew Bailey.

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