Plastic banknotes set for 2016, Bank expected to say

The Bank of England is today expected to announce plans to press ahead with switching to plastic banknotes, starting with the new Sir Winston Churchill £5 note in 2016.

Samples of Polymer banknotes shown during the news conference at the Bank of England in London during a consultation. Credit: PA

The Bank has been considering a move to polymer notes for several years and new governor Mark Carney, who replaced Mervyn King in June, launched a public consultation on the switch shortly after taking up his post.

In Australia, the notes, which are seen as more hard-wearing and hygienic, have been in circulation since 1996

Read: Washed-out bank notes could soon be a thing of the past

Read: BoE to hold public consultation on plastic banknotes

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New £5 bank notes to be made from plastic

Plastic bank notes are to be issued by the Bank of England for the first time when the new £5 featuring Sir Winston Churchill appears in 2016.