A new £50 note is on its way!
The Bank of England has confirmed today that they will be re-designing the £50 note. The note will be the last in the new line of polymer notes, which enhance security and durability.
The previous £50 note is rarely used by regular consumers, and is often used for money laundering and other criminal activity. The Bank of England is hoping that with the new design and material of the note, it will be much more difficult to counterfeit.
In the Bank of England's press release, they also state that "Polymer notes are cleaner, safer and stronger. They are harder to counterfeit and increase the quality of notes in circulation. And, because they last around 2.5 times longer than paper notes, they are also more environmentally friendly."
There will also be a poll to decide who will be on the reverse side of the note. The current note features James Wyatt and Matthew Boulton, the pioneers of the steam engine. Suggestions are now open as to candidates.
The new £50 note will be released shortly after the new £20 note, which will be released in 2020.