High-value notes were once described by a former bank executive as the"currency of corrupt elites, of crime of all sorts and of tax evasion".report for the Harvard Kennedy School"They play little role in the functioning of the legitimate economy, yet a crucial role in the underground economy," he said."The irony is that they are provided to criminals by the state."
At one point, the Serious Organised Crime Agency - which has since been replaced by the National Crime Agency - said that 90% of the notes sold in the UK were in the hands of organised crime, leaving only 10% for legitimate tourists and business travellers. Its conclusion, following a public consultation, was that the £50 note and coppers should all remain, and that the mix of notes and coins in circulation should be unchanged"for years to come".
However, at the launch of the Alan Turing £50 note on Monday, Bank of England governor Mark Carney said that cash, while declining in popularity, would not disappear.
Lucky to see a 50 pence piece these days the way the prices keep going up all the time.
Isn't that what you pay lineker with ?
Only the rich see £50 note not working class people.
To buy pick n mix with?
So true
Makes life easier for John Sweeney to carry his wallet wedged full of expenses money when he’s making stuff up for Panorama.
Visit Knightsbridge it will open your eyes
Pimps have
Money launderers must love them.
These are a pain🙄 I remember years ago when trying to give one to a shop, the whole staff would come over to examine it, not worth the hassle😒 best off just going into a bank to change them up.
And most places don't accept them as they R most likely 2b counterfeit.
No rarely see any money most things are done with a card or online, but the country needs a physical currency or is the BBC now saying we should run the country on bitcoin ?
That one asshole who comes into the shop and wants to pay £2.99 with £50
The issue is that a lot of shops & banks seem to be suspicious of them as possibly counterfeit & they’re questioning you about it & examining it so it becomes embarrassing when you’ve got a queue behind so you’d rather not have one.
Monopoly money can't spend em
If any homophobes think it is wrong to print Alan Turing’s face on a £50 note then grow up
Oh look more globalist ‘cash is bad’ propaganda from the bbc. Just planting a seed eh?
Considering the number of signs saying they don't take them, it kinda makes me not want one
They are a lot more common than you think but mainly for tourists and not really the U.K. citizens and they are pain because most tourists buy a £1 item with a £50 note to get change.
No one trust's them either. £50
Shop cashiers look at you like you are trying to paying with a Scottish pound note.
Popular with drug dealers and tax avoiders though.
TBH, when businesses are starting to refuse to accept cash altogether, why bother with any of it anymore?
Scottish banks issue £100 notes! See them more frequently than £50s!
I have never experienced such an offensive embarrassment as when I handed a £50 note to a cashier/shop assistant, the best known pharmacy in the UK. The assistant was making it appear that the £50 note was stolen & my pocket was full of them. I demanded my £50 note back & left.
When you can have two £20 notes and a £10 what’s so different about having a £50? There will always be a largest note no matter what so why the debate?
It’ll be quite common post-Brexit!
So when builders get payment in cash to avoid tax, they don’t have huge wads to carry around.
Try and find a shop that accepts them all but impossible
They are useless. Try using one to buy a sausage roll.
Never seen one.
💭 why have hard cash at all, why not just use cards, I haven't carried cash for over 10yrs
Slow news day Or just lazy?
Scotland has a 100 pound note Any questions on why they need That?
For me 😉
If homophobic people don’t want the new £50, I’ll take it off their hands
So we should scrap things that few people see? Well we can start with that new Scottish BBC channel and get rid of the most BBC programmes and staff.
Used to get loads if we took money out of the bank for a car etc. Now just transfer the money instead in minutes . Shops reluctant to take them to no use at all
Seen and touched plenty. Go to a bank if you're that desperate.
So that, when you do see one, you double take.
You could say the same for the queen in that basis
Never had a £50 note
For those that have? There's a €500 note..
So we can identify drug dealers
My pockets full of 5's 10's and 20's ( pence coins )
Seeing isnt an issue !!!! It's owning them.!
And most shops will never accept it...
Yes - £50 notes are extremely useful for paying for high value goods/services in the UK when cash is preferred. Additionally they are the preferred method for foreign currency exchange when travelling within the Middle East & ASEAN countries.
So rich folk can say. 'Can you change a fifty?'
We got 100s here in NI
Vote in jeremycorbyn as PM and a lot of British people might just get a few in their wallets for the first time!
The more notes the better. Cash makes it harder for you to be tracked by big brother companies. I'd love to colllect Ada Lovelace notes in my wallet.
An Ada Lovelace note would have been better. She is just more quintessentially English, wheras Alan Turing is more of a martyr.
Why did they use a picture of ScottThompson_ ?
Why not have them. I withdraw 7 of them to pay my rent cash in another bank. Saves time, easier to count.
When I was Working in Screwfix and dealing with tradesmen I saw plenty. Working class people sometimes use them too!
I have six of these currently sitting in my wallet as I tweet this. £50 notes are quite commonplace in my walk of life. 👍😁😁😁💷 MoneyMaker 💷
We are taking bets (not really, gambling is banned under Islam) on when the Far-right are going to start the hate mongering 'Muslims want to ban the £50 because of gay man'. Well we get the BS of halal Easter eggs and ban Xmas BS every year that aren't true. 😁
I was there in Oct 2018 from the US and people don't like the note, because of forgeries.
Depends what you mean by “most people” I’m sure “most people” have been to the bank and taken out over £100 before, but the cashier always asks how you’d like it, “most people” say in £20s or some alternative, but cashiers will normally give £50, 2 £20s, 1 £10 or 2 £5s otherwise
You can buy a cup of tea with it can’t you. lol
The rich need a snorting device handy
I've had one in my 35 year life 😱
It also has to do with how the economy fluctuates and grows, we never had a £2 coin till the economy grew...
Cash in handers, drug dealers, show offs.
BolsonaroSP jairbolsonaro ernestofaraujo
Most shops would do ‘forensics’ on the note before accepting it.🤣🤣
so the likes of Osbourne and bojo the clown can burn them in the face of the homeless.
i remember the £1 notes .. made you look rich years ago will a wallet full of them .. lol
I paid for petrol with one tonight. I have 3 in my wallet right now.
Well, I'm with you there🧡
Got to pay the builders somehow
The Business Note
I personally flew with god knows how much stacked in my wallet. As a student. How we do
Most people don't own a jaguar, or a private jet, I guess you will be doing away with them also? Wow, what a concept.. if you made the rich and famous suffer with only the same shit us poor people are forced to use, I'll bet things would really start to change. SameShit4Everyone
Same reason we have $100 bills in the states... It's easier to fold a $100 bill in your wallet than five 20s, ten 10s, twenty 5s or one hundred 1s. 🤷🏼♂️
Boo hoo! Did you want his mug on the tenner?
For when foreigners visit
When most shops wont accept them you mean !
The 1% needs something to light their cigars with.
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