Friday, 16 November, 2018

Vegetarians & Vegans Won't Like The Bank Of England's Latest Announcement

Melinda Barton | 17 February, 2017, 01:04

But when all the paper £5 and £10 notes are replaced over the next few years, there will be some 1.1 billion plastic banknotes in circulation, each containing trace amounts of tallow.

Although the bank claimed it was unaware of the animal fat content, it said it recognised concerns.

The BOE also noted that the production uses only an "extremely small amount of tallow".

The bank said it is "continuing to work closely with banknote polymer suppliers to determine what alternatives might be available".

The Bank has said it has spent £46m on printing the £5 note, and £24m so far on printing the new £10 polymer notes. Reprinting these notes on a new substrate would mean incurring these costs again.

Rajan Zed urged BOE Court of Directors Chair Anthony Habgood and Governor Mark Carney to reconsider the BOE decision and stop the circulation of £5 polymer note and halt the production of £10 and £20 polymer notes.

The petition against the £5 note, hosted on the website, stated that tallow was "unacceptable to millions of vegans, vegetarians, Hindus, Sikhs, Jains and others in the UK".

The notes, which feature Winston Churchill and are created to be more robust, began to enter circulation in September.

A row broke out about the use of tallow in the new plastic banknotes last November, after it emerged that they contained tallow, an animal byproduct.

The £5 polymer banknote, featuring Sir Winston Churchill, was launched on 13 September 2016.

A petition to ban the note attracted more than 100,000 signatures.

However, the central bank did say it was "seeking further opinions on the use of animal-derived products and plant-based alternatives" before it signed contracts to produce plastic £20 notes, due to come into circulation by 2020.

More than 130,000 people signed an online petition a year ago calling on the BoE to stop using animal products in banknotes, after it emerged that small amounts of tallow - which comes from cows and sheep - were used in its first plastic five pound note. Moreover, despite the protests, the main bank of the United Kingdom made a decision to push ahead with production of the new £10 plastic note. which is due to be issued in September.