The Bank of England has quietly shelved its dedicated committee of experts – created to select historical characters for inclusion on banknotes – in order to replace Winston Churchill and Alan Turing with squirrels. Mealy-mouthed excuses include that animals are easier to forge and the public interest in nature ’emerged’ in consultation…
In 2013 the BoE under Carney founded a five-strong Banknote Character Advisory Committee to manage the selection of individuals to appear on new notes. The terms of reference for the committee say the “Bank seeks to celebrate individuals that have shaped British thought, innovation, leadership, values and society. The Bank represents on its notes a person or small group of individuals whose accomplishments or contributions have been recognised widely at the time, or judged subsequently to have been of lasting benefit to the United Kingdom and, in some cases, beyond.” That doesn’t include badgers…
The advisory committee has appeared in BoE annual reports until 2021 and the Treasury claimed it was still in operation as recently as November last year. The membership: “The standing members of the Committee shall comprise the Deputy Governor for Monetary Policy (Chair), the Chief Cashier and at least three external members, as invited by the Governor. Internal members are ex officio; external members shall serve a five year term, renewable for a further five years.” There has been no public notice of the committee’s abolition – it did not appear in the Bank’s latest annual report…
The Bank of England has quietly buried the purpose of its dedicated committee by opening a consultation and ditching historical characters from banknotes. Too lazy to put up with whiny complaints from commentators – no one complains about squirrels because they aren’t powerful symbols…







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