The National Bank of Australia has announced that the portrait of King Charles III will not appear on the new $5 note as it did on Queen Elizabeth II.
Like many other countries that are part of the British Empire, Australia has also adopted a $5 note with the portrait of the country’s head of state. As Queen Elizabeth II abdicated, a debate arose over whether her successor would be put on the money.
The bank continued to say that in making this new note, it will first consult the public about its nature. It is expected that the new $5 note will not completely stop the use of the existing Queen Elizabeth II note.
The central bank said the update followed discussions with the government of Prime Minister Anthony Albanese, which supported the change.
Treasurer Jim Chalmers said the change was an opportunity to strike a good balance.
“The monarch will still be on the coins, but the five-dollar 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.
The British monarch is Australia’s head of state, a largely ceremonial role, but the death of Queen Elizabeth II last September sparked renewed debate about whether the country should become a republic.
Aboriginal and Torres Strait Islander culture has featured on a number of notes.Australia has refused to put a portrait of King Charles III on the new banknote
The current 50-dollar ($35) note features author, activist, inventor, musician, and preacher, David Unaipon, a Ngarrindjeri man from South Australia state.
Albanese’s government is planning a landmark referendum on an Aboriginal “voice” to parliament for the Indigenous community.
