CANBERRA, AUSTRALIA (AP) – King Charles III announced Thursday that he will not appear on Australia’s new five-dollar note, suggesting he will phase out the British monarchy from Australian banknotes. is still expected to appear on coinage.
The Reserve Bank of Australia said it would replace the previous portrait of Queen Elizabeth II with a new indigenous design, a move that honors “the culture and history of the first Australians”.
“The Australian Parliament will continue to be featured on the other side of the $5 note,” the bank said in a statement.
The five dollar bill is the only banknote in Australia to feature the monarch.
This decision was made in consultation with the government who supported the change.
Treasurer Jim Chalmers weighed in on the decision, saying the change was an “opportunity to strike a balance.”
“The monarch will continue to be on the coin, but the $5 bill will say more about our history, our heritage and our country. I think that’s a good thing,” he told reporters in Melbourne.
Opposition leader Peter Dutton likened the move to changing the date of Australia Day.
“I know the Silent Majority disagrees with a lot of the nonsense that’s going on right now, but we need to hear more from those people online,” he told 2GB Radio.
Dutton said Prime Minister Anthony Albanese was at the center of the decision not to have the king appear on banknotes, urging him to “acknowledge it.”
The bank plans to consult with indigenous groups on the design of the $5 bill, which it expects to take many years before it goes public.
The current $5 will continue to be issued and remain legal tender until the new design is introduced.
The face of Charles III is expected to appear on Australian coins later this year.
