The first plastic banknotes in Great Britain will be introduced in Scotland next year to celebrate the 125th anniversary of the Forth Bridge, Clydesdale Bank has announced.
The bank – one of the three Scottish institutions authorised to issue notes – will release 2m £5 ($8.4) notes, smaller than the current ones and featuring the architectural structure, from March 2015.
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The fiver will also present the image of Sir William Arrol, one of Scotland’s most celebrated engineers, whose company constructed the bridge 125 years ago.
Alistair Carmichael, secretary of State for Scotland, said: "The Forth Bridge truly reflects Scotland’s position as a pioneer of engineering and construction, while its recent nomination to become a Unesco World Heritage site reflects its global status."
Clydesdale Bank stated that polymer notes were more durable than the existing cotton paper currency, but also cleaner and more difficult to counterfeit.
Debbie Crosbie, the bank’s executive director, commented: "We continue to lead the way in banknote development, and we are now at the forefront in polymer currency.
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By GlobalData"The Forth Bridge’s super structure certainly lends itself to the intricate processes of banknote printing, combining security, durability and an aesthetically striking design."
However, Clydesdale Bank did not express definite plans to introduce the polymer currency generally.
The Scottish institution has been producing cash since 1838 and now introduces around £400m worth of new notes every year and has an average of £1.8bn worth of notes in circulation in Scotland each day.
The Bank of England announced in December that it will convert all notes to plastic from 2016, with a new £5 note featuring Sir Winston Churchill. A £10 note featuring Jane Austen should follow about a year later.
More than 20 countries around the world have already adopted polymer banknotes, such as Australia (as early as 1996), New Zealand, Papua New Guinea or Israel and, in Europe, Romania.
In the UK, the Northern Bank of Northern Ireland issued in 1999 a limited-edition polymer £5 note to celebrate the year 2000.
According to BBC News, a plastic note was also introduced in the Isle of Man in 1983 but was withdrawn in 1988 owing to problems with the ink.
Also, this new plastic note raises the question of the future of the pound sterling in Scotland following the referendum of the 18 September 2014.
Last month, a Downing Street spokesman said: "There will not be a currency union in the event of independence." If this happens, what of the 2m plastic notes due to be delivered six months later?
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