Blog Type, IPT Blog, Industry Sector, IPT, Finance | July 2016

Meet the New Bank of England £5 Note!

On Wednesday 13 July 2016, the Industry and Parliament Trust hosted a drop-in reception in the House of Commons, working in collaboration with the Bank of England, to provide Parliamentarians with a glimpse of The New Fiver. The reception was hosted by Rt Hon Sir Nicholas Soames MP, the Grandson of Sir Winston Churchill who will be featured on the new polymer £5 note. We were delighted to be joined by Victoria Cleland, current Chief Cashier at the Bank of England, who provided guests with an informative introduction on the design and security features of the new note, which will be issued on Tuesday 13 September 2016. We were also pleasantly surprised to be joined Roger Daltrey, lead singer of The Who, who popped in to learn more about the new £5 note’

Victoria Cleland and Rt Hon Sir Nicholas Soames MP discuss the circulation of the new £5 note

The new polymer banknotes are cleaner, securer, and more durable than paper banknotes. They will provide enhanced counterfeit resilience and increase the quality of banknotes in circulation. The strength of the polymer material means that The New Fiver is expected to last at least 2.5 times longer - around 5 years - even after being folded into wallets and scrunched up in pockets.

Click here for more information on the new £5 note.