Reform to be implemented in 2016
Bank of England plans a monetary reform in the country - by 2016 all paper money are to be replaced with plastic, according to Guardian.
According to the bank representatives, plastic notes will be much more durable than paper analogues - they should last up to 6 times longer. The size of notes will also be slightly reduced (by 15%).
And even though the production cost of new banknotes will be 50% more, the government believes that they will pay off due to their durability.
