<P> The Bank of England has announced it is creating new £ 5, £ 10 and £ 20 notes in polymer form . The exclusion of the £ 50 has raised speculation that there could be plans for the Bank of England to remove it from circulation . The Governor of the Bank of England, Mark Carney has said there are "no plans" for a polymer £ 50 which has led some to believe that the £ 50 will be gradually phased out as the move to polymer is completed . Concerns are also raised about 50 pound notes being rarely used in everyday transactions . Only 9 of Barclays Bank's ATMs dispense these notes, leading to consumers rarely interacting with them . </P> <P> Peter Sands, an advisor to the British Government and former Chief Executive of Standard Chartered, has raised concern with the Bank of England over high denomination notes and their role in tax evasion . He claimed that scrapping the £ 50, and other high denomination notes such as the CHF 1000 and $100, will reduce financial crime . </P> <P> However, a Bank of England source told the Financial Times (FT) in December 2016 that there were no plans to remove the note from circulation . The FT said the removal would be "a loss of Liberty" and raised points that the £ 50 is useful for high value cash transactions, such as eating out . </P> <P> Furthermore, there is worldwide precedent for mixed material currency as the Singapore Dollar has its 2, 5, and 10 dollar bills on polymer substrate and their 50, 100, 1000, and 10,000 dollar bills on paper . </P>

When do the new £50 notes come out
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