British polymer banknotes
The polymer banknote will replace the paper banknote. That is if we believe Martin Sutherland, CEO of banknote printers De La Rue. Sutherland says polymer is “the substrate of the future”. Polymer is cleaner, more durable and more profitable he says. De La Rue is world´s largest commercial producer of banknotes and passports. The print shop in Hampshire produced 6,5 billion banknotes (up 5%) last year for which they used 9,400 tonnes of paper (down 2%). De La Rue´s turnover however was down 8% to 472 million UKP.
Last September De La Rue and the Bank of England signed a 10-year contract. Unfortunately De La Rue did not win the contract for new polymer £5 and £10 banknotes. Innovia Group will deliver those. The first British polymer banknote is expected to be issued in 2016, a £5 note with an image of Winston Churchill, followed in 2017 by a £10 note with an image of Jane Austen.