The Bank of England has launched a public consultation that could see historical figures removed from British banknotes, sparking fierce criticism from Conservative politicians who branded the move “wrongheaded wokery.”
The three-month consultation, which opened on July 2, 2025, asks the public to choose themes for the next series of banknotes, with options including nature, landmarks, and innovation alongside the traditional historical figures.
Chief Cashier Victoria Cleland suggested the Bank could achieve greater diversity through alternative themes, stating: “It may be that we can get that real diversity through a different theme than historic figures.”
Former Business Secretary Sir Jacob Rees-Mogg condemned the consultation in scathing terms.
“The Bank of Wokeness wants to ignore our history and heroes to model itself on the unutterable banality of euro notes,” he said.
It shows a lack of confidence in the nation and a supine kowtowing to the gods of political correctness.
Shadow Communities Secretary Kevin Hollinrake echoed these concerns, calling the proposal misguided.
“This is wrongheaded wokery. We should be proud of our history, not sideline it,” Hollinrake stated.
“Replacing historical figures with abstract themes risks erasing the rich, complex story of how our country has evolved.”
He argued that diversity should be achieved by expanding the range of historical figures honored rather than abandoning them entirely.
The Bank’s consultation document confirms that “notable historical figures” have featured on banknotes since 1970, when William Shakespeare became the first person other than the monarch to appear.
Current polymer notes feature Winston Churchill on the £5, Jane Austen on the £10, JMW Turner on the £20, and Alan Turing on the £50.
The six potential themes identified include notable historical figures, nature, architecture and landmarks, arts, culture and sport, noteworthy milestones, and innovation.
The Bank emphasized that the next series will continue to feature a portrait of the monarch regardless of the selected theme.
“Banknotes are more than just an important means of payment – they serve as a symbolic representation of our collective national identity and an opportunity to celebrate the UK,” Cleland explained.
The consultation comes as King Charles III banknotes entered circulation in June 2024, marking the first sovereign change on British currency.
Banknotes are complex and it is a detailed, multi-year process to design, test and print them, to ensure they are high-quality, resilient and accessible.
The Bank has not specified when the new series would be issued, with officials noting that current counterfeit levels remain low.
The consultation closes at 11.59pm on 31 July 2025, with UK residents and British citizens able to submit recommendations online or by post.
The Bank stated it may not select the theme receiving the most votes, as decisions will also consider how each option meets design criteria and technical requirements.
Depending on which theme is selected, we may seek further feedback from the public on the specific images that could be used to show the chosen theme.
Critics warned that abandoning historical figures would break with a 55-year tradition that has celebrated British achievement across multiple fields.
The controversy reflects broader debates about how institutions balance tradition with calls for greater representation and inclusivity.
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