King Charles on Australia’s $5 bill: A big clue the nation could do away with Queen Elizabeth as a local hero
Big Hint That Our $5 Bill Might Change After Queen Elizabeth II’s Death
- King Charles III will replace His Majesty on Australian coins from next year
- But this is not a requirement for the $5 bill and his portrait was a design choice.
- Treasurer Jim Chalmers said there should be a debate whether Aussie should replace her
The federal treasurer has hinted that King Charles III might not replace Queen Elizabeth II on Australia’s $5 bill, instead suggesting the idea of a local bill adorning the coin.
Jim Chalmers said Wednesday that the decision to scrap the Queen and replace her with her son, the new monarch, should not be an automatic decision and should instead be discussed.
“My personal opinion is that it should not be out of our hands to consider and consult on the best way to change the $5 bill when necessary,” he told reporters.
“I don’t see a huge rush to change the $5 bill, but I also don’t think it should be particularly controversial for a country like ours to consider consulting what we want to do with the $5 bill in the future.”
King Charles III will replace the Queen (pictured) on Australian coins from next year, but the $5 note should be up for discussion, the treasurer said.
While Australian coins will show King Charles III on the reverse from next year, facing away from the Queen, questions have been raised as to whether an Australian figure should be on the note.
Deputy Treasury Secretary Andrew Leigh said earlier this month that there was no requirement for the monarch to appear on the $5 bill.
“The decision to put the queen’s face on the $5 bill was more about her personally than her status as a monarch,” he said.
‘It is a conversation that will take place in the government. There is no rush about it.
“The priority now is to change currencies, which is a much bigger operation.”
Chalmers said this week that he had already had a discussion with Reserve Bank of Australia Governor Philip Lowe about the process to replace the Queen.
The RBA has previously said it was traditional for the monarch to appear on the lowest note.
The UK will not produce banknotes featuring King Charles until 2024.
The image of the Queen on the $5 bill (pictured) is not a requirement like the coins, but rather a choice.
The opposition attorney general’s spokesman, Julian Leeser, wants the head of state to stay on the design.
“Australia is a Commonwealth nation… The Labor government should commit to having King Charles on our $5 bills in due time,” he said.
Coins and banknotes bearing the image of the Queen will remain valid currency as long as they are in circulation.