New £50 Note Will Ensure Cash Is Fit For The Future

[6Foot2]

Link: New £50 note will ensure cash is fit for the future [GOV.UK]

 

• Treasury confirms £50 note will continue to be part of the UK currency
  
• Bank of England announces it will make a new modern polymer note
  
• more secure note will help clamp down on crime

Modern money will help prevent crime, the Exchequer Secretary declared today (13 October 2018), as plans were unveiled for a new, more secure £50 note.

 

Following a public consultation, the government has confirmed that the current mix of coins and notes will remain. The move will give people more flexibility over how they spend and manage their money, while making it harder for criminals to counterfeit the note for illegal activity...

[DalekSec]

I wonder who will be on the note!

 

My vote is for Chris Moyles

[FN-GM]

It makes sense to keep it. As inflation continues it will be used more and more.

[6Foot2]

I wonder who will be on the note!

 

My vote is for Chris Moyles

 

I think there is going to be a public consultation/poll as to who should be included.

 

Criteria likely to be something like: Has made a significant contribution to culture/economy of the UK. No longer alive.

 

I think there is an ePetition that says Margaret Thatcher should be on the note. Can't be bothered to look for it.

 

I feel sure that there will be many responses like 'Notey McNoteFace'

 

Edited October 16, 2018 by 6Foot2
Add a missing 'o'

[localzuk]

Only time I ever saw them was a) when my parents moved house when I was a kid - there was a problem with the bank, and the easiest way to get the deposit from one bank to another was by moving cash. So my dad took a bundle of 50s from one bank to another and b) at university when the rich trust fund babies tried to pay for their £1 print job with £50 note.

 

The use of cash is dropping daily, with contactless taking over, so they won't be used more.

 

Should've been scrapped IMO.

[DalekSec]

I think there is going to be a public consultation/poll as to who should be included.

 

Criteria likely to be something like: Has made a significant contribution to culture/economy of the UK. No longer alive.

 

I think there is an ePetition that says Margaret Thatcher should be n the note. Can't be bothered to look for it.

 

I feel sure that there will be many responses like 'Notey McNoteFace'

 

 

If Margaret Thatcher is put on the note, i will make it my personal task to seek every £50 in the country and burn them.

Edited October 16, 2018 by DalekSec

[FN-GM]

Only time I ever saw them was a) when my parents moved house when I was a kid - there was a problem with the bank, and the easiest way to get the deposit from one bank to another was by moving cash. So my dad took a bundle of 50s from one bank to another and b) at university when the rich trust fund babies tried to pay for their £1 print job with £50 note.

 

The use of cash is dropping daily, with contactless taking over, so they won't be used more.

 

Should've been scrapped IMO.

 

After doing a stint in the security department of a bank in 2012 I avoid cards at all cost!

[6Foot2]

If Margaret Thatcher is put on the note, i will make it my personal take to seek every £50 in the country and burn them.

 

Who knows, if it is her, maybe they won't use her face...

 

[Arthur]

As inflation continues it will be used more and more.

I am surprised there isn't already a £100 note. Maybe there will be after Brexit?

 

After doing a stint in the security department of a bank in 2012 I avoid cards at all cost!

Is that just debit cards or credit cards too? With the latter you get useful things like 'Section 75' protection for purchases over £100. With lots of high street retailers going out of business that's quite handy.

 

Do you reckon the security at new banks like Monzo and Starling are better? Older banks like Tesco are shockingly bad security-wise.

[unixman_again]

If Margaret Thatcher is put on the note, i will make it my personal task to seek every £50 in the country and burn them.

 

 

https://www.thepoke.co.uk/2018/10/16/theres-going-to-be-a-new-face-on-the-50-note-and-these-reactions-are-on-the-money/

[Dos_Box]

As was listed in the first post, one reason for the 'update' is that it will help crack down on crime.

Many cash-in-hand industries (tax evasion) and criminals use large denomination notes like the £50 for maintaining large cash supplies in the smallest volume.

If a new note was introduced the old notes would have to be exchanged. This has the potential to flag up ne'ar-do-well's or simply wipe out large amounts of cash they may be holding.

With anti money laundering regulations in place you can't simply go into a bank with a large amount of cash and simply deposit/exchange it without getting flagged.

Even the EU had the same idea and is looking to deal with the problem of the 500 Euro note which is said to be a criminals favorite - https://www.theguardian.com/business/2016/feb/12/eu-finance-ministers-call-for-restrictions-on-500-euro-note-crime

Tax evasion among cash based industries is one reason the UK govt is very keen to make it much easier to pay via card in things like taxis etc.

Edited November 2, 2018 by Dos_Box

[6Foot2]

Link 1: Think science for the new £50 note [bank of England]

 

What you need to know

 

You can nominate as many people as you like. But anyone who appears on the new £50 note must:

 

• have contributed to the field of science
  
• be real – so no fictional characters please
  
• not be alive - Her Majesty the Queen is the only exception
  
• have shaped thought, innovation, leadership or values in the UK
  
• inspire people, not divide them
  

You can suggest anyone who has contributed to the fields of pure or applied science. That could include: astronomy, biology, bio-technology, chemistry, engineering, mathematics, medical research, physics, technology and zoology.

 

*No 'Notey McNoteFaces' then.

 

 

Link 2: £50 Character Nominations

[Dos_Box]

I'd vote for Alan Turing.

[Dos_Box]

And I have!

[DalekSec]

What about the Hawk?

[Garacesh]

I'd vote for Alan Turing.

 

And I have!

 

As have I

[elsiegee40]

I voted for Rosalind Franklin the scientist who was denied a share of the Nobel Prize awarded to her colleagues simply because she was female.

 

I would be equally happy with Ada Lovelace or Alan Turing

[6Foot2]

Link: Margaret Thatcher on longlist to be face of the new £50 note [birminghamMail.CO.UK]

 

Recapping the stated criteria for appearing on the new £50 notr:

 

But anyone who appears on the new £50 note must:

 

• have contributed to the field of science
  
• be real – so no fictional characters please
  
• not be alive - Her Majesty the Queen is the only exception
  
• have shaped thought, innovation, leadership or values in the UK
  
• inspire people, not divide them
  

 

I am not aware of what particular contribution to chemistry (her field of science) Mrs Thatcher made when her intersts lay in that direction and I would say that it would be hard to find a MORE divisive person in the last 50 years! Notable exceptions: Enoch Powell, Ian Paisley (maybe not in his latter years)

 

I was tempted to put Nigel Farage but I would say that many can unite behind their dislike of him, so he doesn't count.

[6Foot2]

If Margaret Thatcher is put on the note, i will make it my personal task to seek every £50 in the country and burn them.

 

She made the shortlist (along with quite a few others)

 

Link 1: Banknote Character Advisory Committee [bank of England]

 

The committee picks the field from which new banknote characters are chosen. After this, the public is asked to nominate people from this field to appear on the new banknote. The committee, considering the selection principles and input from public focus groups, reduces these nominations to a shortlist. The Governor makes the final choice from this shortlist...

 

Link 2: £50 Eligible Nominations [Presentation: 7 page PDF]

 

Between the launch and closure of the character selection process for the £50 note announced by the Governor on 2 November, we have received a total of 227,299 nominations from members of the public. This is the list of 991 eligible names that were suggested within the nomination period. This is only the preliminary stage of identifying eligible names for consideration: At this stage, a nomination has been deemed eligible simply if the character is real, deceased and has contributed to the field of science in the UK in any way. These names have not yet been considered by our Banknote Character Advisory Committee. We plan to announce the character for the new £50 banknote in Summer 2019...