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Animal products will still be used for notes

Animal products will still be used for notes

Business
The Bank of England has decided to carry on using chemicals derived from animal products to make its new plastic banknotes despite an outcry.An extensive consultation saw the vast majority of those who responded say they were against the use of the additives.But the Bank said the alternative of using palm oil raised environmental concerns and would cost the Treasury an extra £16.5m over the next ten years.The Government told the Bank it did not believe a switch would be achieve value for money for taxpayers.Campaigners launched a petition last autumn after it emerged that the new plastic £5 note contained traces of an animal product derivative.The Bank launched a review following the outcry and earlier this year decided not to scrap the notes, though it said it would hold a public consulta