I don't know how many times in my lifetime that we have had to get used to new notes or coins being introduced, but the Bank of England have just unveiled the new £5 note.
Not going to go on about the note itself, but i was watching breakfast news, was only really half tuned in but there was an economics chap going on about the cost saving the note will make the BofE to the tune of £100million in 10 years, but it will cost 2 - 3 times more than their savings for retailers and other Banks to change their systems and cash points etc to allow the new note to be accepted and/or dispensed.
Never really given a thought about the other economics and costs involved in introducing a new note/coin until now ..... how many cash points will need adapting, tills in supermarkets, staff training on identifying the new note - the list goes on & on!
Clive
If we go EU next month wont we end up using the euro trash money as we are going all in if we do ..aren't we
At least with the new plastic fiver, it will survive the washing machine It's going to be an immense job upgrading and retrofitting, but it's going to have to be done for all the different notes as they are going to gradually rolled out, with the new tenner coming next.
“If we go EU next month wont we end up using the euro trash money as we are going all in if we do ..aren't we”
Hadn't heard that. I must admit i thought the £ had been secured irrespective of the result. Clive
I always assumed like all other EU countries use the Euro , IF we went in wouldn't we use it as well, nice to know if we do we will keep the £££
Not in a million years will the UK give up it's currency for the Euro, it would be the final nail in the coffin over whether we stay or not..... Next you'll be suggesting the end of the pint! Thanks, Barney
Thats actually a good point - how did we keep the pint when nearly everything else went metric. (Although we did retain our MPH too) Asking for 568 milliliters of lager isn't quite the same as a pint is it lol Clive |
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Fat chance....