The Bank of England has today issued a press release concerning the new \u00a350 note. In it they say:<\/p>\n
Today, Governor Andrew Bailey unveils the design of the new \u00a350 banknote featuring the scientist Alan Turing. He will be joined by Stephen Fry and Dr Simon Singh, who will reflect on the note, and the choice to feature Alan Turing on it. Following its public unveil today, the polymer \u00a350 will be issued for the first time on 23 June 2021, which coincides with Alan Turing\u2019s birthday.<\/p><\/blockquote>\n
I am pleased Alan Turing is being celebrated. But that does not prevent me asking the very obvious question as to why we need \u00a0such a note?<\/p>\n
That I can recall I have never had \u00a0\u00a350 note. To be honest, I can think of no need for one. And if I had such a need I can also think of no reason why two \u00a320 notes and a \u00a310 note would not do just as well.<\/p>\n
I very strongly suspect most readers of this are in a similar position. Even recalling the colour of a \u00a350 note would challenge most people (it\u2019s red). So why do we have it when it is used so little?<\/p>\n
By far the best justification for the \u00a350 note is that it makes illicit activity - from drug dealing to tax evasion - so much easier. Any other \u00a0use it might have is incidental, in my view, to that purpose.<\/p>\n
So, why is the Bank of England \u00a0producing a new note whose primary use will be in illicit activity in the UK economy? I wish I knew. The UK could survive without a \u00a350 note. I very strongly suggest that it should.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bank of England has today issued a press release concerning the new \u00a350 note. In it they say: Today, Governor Andrew Bailey unveils the
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