No plastic bank notes for the Island

Thu, 19 Dec 2013

The Island won't be issuing plastic bank notes alongside the UK in 2016.

That’s according to the Treasury Minister - he says that they cost too much and would spark private sector costs in upgrading cash machine technology.

Issuing plastic banknotes for the first time - the Bank of England says the quality of polymer notes is higher; and more secure from counterfeiting at lower cost to the taxpayer and environment.

20 countries have started using plastic notes internationally - including Canada, Singapore, New Zealand and Mexico.

Eddie Teare says that merits of using them have been considered: