BOE to consider Polymer Pounds

The Bank of England is moving closer to ditching paper pounds and following Australia and Canada into switching to plastic banknotes instead.

The central bank said on Tuesday it would ask the public its opinion before taking a decision in December on whether to adopt polymer pounds that also would be smaller than current notes.

Governor Mark Carney introduced polymer banknotes while head of the Bank of Canada in 2011 and credited the material for a sharp drop in the rate of counterfeiting.

CNBC

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