Bill validator manufacturers may soon have to wrestle with the problem of plastic banknotes in the UK market – although they are already in use in Canada.
The next Governor of the Bank of England, which issues banknotes in the UK, admitted in a newspaper interview that the Bank is "exploring a variety of options for the next currency.”
Carney introduced polymer bills to Canada last year and he is due to take over the Bank of England job in July of this year. The Canadian experience has not been overly successful with reports that some bills have melted, but Carney favours them because they are cleaner, greener, do not stick together and altogether cheaper.
UK banknotes are currently made from a combination of cotton and linen and last year the Bank put the printing contract out to tender.
