Australia Set To Remove British Bank Notes

Australia has decided to remove the British monarchy from its banknotes.

The country’s central bank said that on Thursday its new $5 bill would feature an indigenous design rather than an image of King Charles III. But the king is still expected to appear on coins that currently bear the image of the late Queen Elizabeth II.

The $5 bill was Australia’s only remaining banknote to still feature an image of the monarch, a report by AP News said.

The bank said the decision followed consultation with the center-left Labor Party government, which supported the change. Opponents say the move is politically motivated.

The British monarch remains Australia’s head of state, although these days that role is largely symbolic. Like many former British colonies, Australia is debating to what extent it should retain its constitutional ties to Britain.

Australia’s Reserve Bank said the new $5 bill would feature a design to replace the portrait of the queen, who died last year.

According to the bank, the move would honor “the culture and history of the First Australians.”

“The other side of the $5 banknote will continue to feature the Australian parliament,” the bank said in a statement.

Treasurer Jim Chalmers said the change was an opportunity to strike a good balance.

“The monarch will still be on the coins, but the $5 note will say more about our history and our heritage and our country, and I see that as a good thing,” he told reporters in Melbourne.

Opposition leader Peter Dutton likened the move to changing the date of the national day, Australia Day.

“I know the silent majority don’t agree with a lot of the woke nonsense that goes on but we’ve got to hear more from those people online,” he told 2GB Radio.

Dutton said Prime Minister Anthony Albanese was central to the decision for the king not to appear on the note, urging him to “own up to it.”

After taking office last year, Albanese started laying the groundwork for an Australian republic by creating a new position of assistant minister for the republic, but holding a referendum to sever constitutional ties with Britain has not been a first-order priority for his government.

The bank plans to consult with Indigenous groups in designing the $5 note, a process it expects will take several years before the new note goes public.