The Bank of England incurred costs exceeding £85,000 for research aimed at justifying the decision to remove Winston Churchill and other British historical figures from banknotes. This initiative, which began with research suggesting that portraits of notable Britons should be replaced by wildlife designs, was driven by concerns that historical figures could be perceived as 'elitist and divisive.'
A Freedom of Information request revealed that £63,000 was spent on research to support the transition to nature as a theme for the currency. The market research consultancy firm Savanta was paid £49,000 to conduct focus groups on diverging from historical figures. An additional £22,500 was allocated for public consultations regarding the selection of animals for the new banknotes.
This move signifies an end to a tradition spanning over fifty years, during which prominent Britons have appeared on banknotes alongside the monarch. Critics have labeled the decision as "bonkers" and "erasing our history."
Currently, Winston Churchill is featured on the £5 note, Jane Austen on the £10 note, J.M.W. Turner on the £20 note, and Alan Turing on the £50 note. The Bank of England stated that Savanta was selected through a competitive evaluation process that assessed criteria including value for money. It also noted that no external research or consultancy expenditure was incurred during the public consultation phase, though staff time was not recorded.
The Bank characterized the shift away from historical figures as a "positive evolution" rather than "censorship" or "cancellation" of history. A public consultation involving over 400,000 votes informed the selection of nature-themed banknotes, with a shortlist developed by a panel of wildlife experts.
Mammals, birds, and amphibians, insects, and fish were presented as categories for public voting. The Bank of England's governor, Andrew Bailey, is expected to make the final decision on which animals will be featured by the end of the year.
Previously, a Bank of England spokesperson indicated that the decision to adopt a nature theme was driven by the highest proportion of nominations received during a public consultation last year, which garnered 44,000 responses. This theme also received positive feedback in Bank-commissioned focus groups conducted after the public consultation results were compiled.
Historical figures were first introduced on sterling notes in 1970 with William Shakespeare on the £20 note. The Bank has faced past controversies regarding banknote designs, including public complaints about the underrepresentation of women before Jane Austen's inclusion in 2017. Additionally, the Bank addressed historical ties to the slave trade in 2021 by removing paintings and busts of governors and directors connected to it.