The Bank of England have said that tallow, an animal product, will continue to be used in polymer banknotes into the future despite objections.
The Bank said: “The Bank fully recognises the concerns raised by members of the public, both prior to and during the consultation.”
The polymer £5 and £10 note will continue to be produced with tallow and the £20, due to be launched in 2020, will also contain the animal product.
The Bank received 3,554 responses to its public consultation and 88 per cent of respondents said that they opposed the use of animal products in the polymer banknotes.
The Bank said: “The Bank has had to balance these responses against its other public duties and priorities as well as the other evidence gathered over the past months.
“Value for money was also a consideration in the Bank’s decision.”
According to the Bank of England, they consulted with the UK Treasury about the potential costs of changing the production practice, as this cost would have been passed on to the UK taxpayer (estimated to be around £16.5m over the next ten years).
The Bank went on to say: ““During our research and discussion with manufacturers and consultants, we were informed that animal-derived additives are used extensively in the many different types of plastics found in a wide range of household goods used on a regular basis, eg in cosmetics, plastic carrier bags, household detergent bottles, and car parts.”
Doug Maw, who started the petition to remove animal parts from bank notes, responds to Bank of England decision to continue using animal parts.
Doug said, “The Bank of England are supposed to represent all of the British public. Their decision to continue using animal parts in the manufacture of polymer notes shows this to be untrue. 140,000 people signed by petition via Change.org and 88% of respondents to the Bank’s own consultation wanted animal parts removing, a process the Bank acknowledge they can do. The largest economy in the world (the USA) don’t use animal parts in their money so why should we?”
Doug went on to say: “ I invite the Bank to reverse this decision, stop using animals as products, start listening to people who have to use their products and act with honour.”