Home Business NewsBusiness Bank set to keep animal fat £5 note

Bank set to keep animal fat £5 note

by LLB Reporter
15th Feb 17 1:40 pm

What are your thoughts?

The Bank of England has said it will be keeping the new £5 note in circulation, despite concerns that is contains traces of animal fat.

The Bank said it concluded that it would be “appropriate” to keep the polymer note within circulation.

It’s also set to issue a polymer £10 note in December.

Vegans and some religious groups had some concerns over the note as it has traces of tallow, which comes from meat products.

A petition calling for the note to be banned managed to attract more than 100,000 signatures.

The Bank said it treated “the concerns raised by members of the public with the utmost seriousness”.

The Bank is currently still working with its polymer supplier to see if there are any other alternatives that can be used for the current £5 note and the future £10 note which will feature Jane Austen.

The Bank has said it has spent £46m on printing the £5 note, and £24m so far on printing the new £10 polymer notes.

The Bank added: “Reprinting these notes on a new substrate would mean incurring these costs again. It would also require a further £50,000 for the secure destruction of the existing stock,”

Leave a Commment

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]