25th Sep, 2017

New polymer £10 note comes into circulation today

Malvern Editorial 14th Sep, 2017

THE NEW plastic £10 notes will be coming into circulation today.

The polymer note will feature author Jane Austen who wrote six novels, including Sense and Sensibility (1811), Pride and Prejudice (1813), Mansfield Park (1814) and Emma (1815).

The old paper £10 notes will be gradually withdrawn by the Bank of England as they are banked by shops and businesses and can still be used until spring next year.

The Bank of England said they would be giving at least three months notice before withdrawing the paper tenners.

Research carried out by Consumer Intelligence ahead of today’s introduction found, despite some controversy when the £5 was changed from paper to plastic, 51 per cent of people say they now prefer the polymer notes.

And, of those surveyed, most said ‘because it was more hygienic’. 67 per cent of those surveyed said they felt plastic cash felt cleaner while 52 per cent said they thought it was more modern.

Almost 30 per cent of people declared being fans of the paper fivers, saying they preferred them to the new ones which were introduced on May 5.

Of those who do not like the new fiver, 59 per cent say they do not like how it feels, a third (33 per cent) believe it’s easier to lose than the old fiver and 30 per cent believe the new notes are prone to sticking together.

Nearly two-thirds of consumers (62 per cent) were aware a new £10 note was being issued this month but only 18 per cent knew it would feature Jane Austen.

On the subject of Jane Austen, nearly two-fifths of adults in the UK (39 per cent) said they had never read an Austen novel and had no intention of doing so.

However screen adaptations of her works have proved more popular as 51 per cent said they had watched Pride and Prejudice on TV.

When it came to the public having their say on whose face should be on the country’s bank notes, around 14 per cent of adults asked for Princess Diana’s image when asked to choose one famous British woman for the next new note ahead of 11 per cent who said they would prefer Margaret Thatcher’s. Other suggestions included authors Beatrix Potter and Agatha Christie and singer, Adele.

Ian Hughes, Chief Executive of Consumer Intelligence, said: “Change is often not popular and there has been a lot of controversy about the polymer notes over the past year.

“But there is clear public support for the new currency and in an age where contactless payment is growing fast it is fascinating that the public remain so invested in cash.”

A new polymer £20 note is not due out until 2020.

There are no plans as yet to convert the £50 note into plastic.

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