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Saturday, June 23, 2007

Filthy Fivers

The Bank of England's Governor, Mervyn King, has told banks that they must help replace the "scruffy" old £5 notes with brand new ones.

King said that the "fiver" is in a sorry state, and is hardly ever seen in a freshly minted state.

King lays the blame for the demise of the "fiver" at the doors of the high street banks. They find it easier and cheaper to stock their cash machines with ten and 20 pound notes.

Therefore "fivers" remain in the banking system for twice as long as they should. Circulation of the notes has not increased in 15 years.

King said:

"We have an ample supply of new £5 notes waiting to be used. We want to see them in circulation."

Even the Bank of England is not highly impressed with the high street banks, yet another dent in their already tarnished brand value.

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