Big hint our $5 note could change after Queen Elizabeth II’s death
- King Charles III will replace Her Majesty on Australian coins from next year
- But this is not a requirement for the $5 note and her portrait was a design choice
- Treasurer Jim Chalmers said there should be debate if Aussie should replace her
The federal treasurer has dropped a hint that King Charles III might not replace Queen Elizabeth II on Australia’s $5 note, instead floating the idea of a local gracing the currency.
Jim Chalmers said on Wednesday that the decision to scrap the Queen and replace her with her son, the new monarch, shouldn’t be an automatic decision and instead should be up for discussion.
‘My personal view is that it shouldn’t be beyond us to consider and to consult on the best way to change the $5 note when that’s necessary,’ he told reporters.
‘I don’t see a massive rush to change the $5 note, but nor do I think it should be especially controversial for a country like ours to consider, consult on what we want to do with the $5 note going forward.’
King Charles III will replace The Queen (pictured) on Australian coins from next year but the $5 note should be up for discussion, the treasurer has said
While Australian coins will feature King Charles III on the back from next year – facing the other way to the Queen – questions have been raised about whether an Australian figure should be on the note.
Poll
Who should be on Australia’s $5 note
Who should be on Australia’s $5 note
Now share your opinion
Assistant Minister for Treasury Andrew Leigh said earlier this month there was no requirement for the monarch to be on the $5 bill.
‘The decision to include the Queen’s face on the $5 note was about her personally rather than about her status as the monarch,’ he said.
‘It’s a conversation that will take place in government. There’s no rush about it.
‘The priority now is changing over the coins, which is a much larger operation.’
Mr Chalmers said this week he had already had a discussion with Reserve Bank of Australia Governor Philip Lowe about the process to replace the Queen.
The RBA previously said it was tradition that the monarch appeared on the lowest banknote.
The UK will not produce notes with King Charles until 2024.
The Queen’s image on the $5 note (pictured) is not a requirement like coins but was a choice
Opposition attorney general spokesman Julian Leeser wants the head of state to remain on the design.
‘Australia is a Commonwealth nation… The Labor Government should commit to having King Charles on our $5 notes in due course,’ he said.
Coins and notes bearing the Queen’s image will remain valid currency while in circulation.
Source: Read Full Article
