Carney may move the UK to plastic cash

February 18, 2013 by  
Filed under Economy

Mr Carney introduced “polymer bills” to Canada last year and, on CTV television yesterday, hinted Britain may follow suit after he joins in July.

Asked if the UK could look forward to a “polymer pound”, he said: “The Bank is exploring a variety of options for their next currency, yes.”

Polymer bills have not been universally welcomed in Canada, where there have been reports of them melting in the heat and problems pulling fresh notes apart, but Mr Carney is a staunch advocate.

“The whole point of them is they come apart, they last longer, they’re cleaner and greener, good value for taxpayers and better for the environment,” he told CTV.

Britain’s “paper” bank notes are made from cotton fibre and linen rag. The Bank last year put its £1bn printing contract out to tender.

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