UK to retain highest denomination note

Central bank says new £50 will be printed on polymer; low-value coins also set to stay

Fifty pound banknotes
The current paper-based £50 note design
Bank of England

The Bank of England has confirmed it will issue a new £50 banknote on a polymer substrate, despite concerns over the role of high-value notes in facilitating crime.

The UK government also said it would retain the lowest coin denominations, the 1p and 2p coins, after a backlash against plans to axe them.

“I’m very excited to be starting the process of introducing a new £50 note,” said Sarah John, the BoE’s chief cashier. “At the bank, we are committed to providing the public with high-quality

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