The £50 note will not be scrapped and will instead get a plastic redesign, the Bank of England has said.

Fears that the largest denomination was widely used by criminals and rarely for ordinary purchases had prompted a proposal to abolish it.

But ministers said the new version, to be printed in the UK, would be more durable, secure and harder to forge.

Polymer £5 and £10 notes are already in circulation, while a £20 design will be issued in 2020.

There are currently 330 million £50 notes in circulation, with a combined value of £16.5bn, the bank said.

Some vegans, Hindus and Sikhs have voiced concerns about the move to polymer bank notes, however, after they were found to contain traces of animal fats.

The decision will also raise questions over which famous Briton will feature on the reverse of the note.

Steam engine pioneers James Watt and Matthew Boulton appear on the current £50, issued in 2011.

Jane Austen was chosen to appear on the plastic £10 note after a campaign to represent women other than the Queen on English notes.

The Bank of England now has a committee which asks for public nominations in a chosen field.

To read the complete article, see:
The £50 note is changing and here's why (https://www.bbc.com/news/uk-45850135)