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Australia is Removing British Monarchy From Its Banknotes

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The nation’s central bank announced on Thursday that the new $5 bill would not have a portrait of King Charles III but rather an indigenous design. However, it is still anticipated that the king would replace the late Queen Elizabeth II‘s picture on coinage.

According to an AP News article, the only Australian banknote still bearing a picture of the queen is the $5 piece.

The Labor Party government, which favored the adjustment, was consulted before the bank made its judgment, according to the bank. The move, according to critics, has political motivations.

Although it has become increasingly symbolic over time, the British monarch continues to serve as Australia’s head of state. Australia is discussing how much it should maintain its constitutional connections to Britain, like many other former British colonies.

The new $5 bill, according to Australia’s Reserve Bank, will have a fresh design in place of the queen’s late image.

The action will honor “the culture and heritage of the First Australians,” the bank claimed.

The Australian parliament will continue to be depicted on the other side of the $5 bill, according to a statement from the bank.

Jim Chalmers, the treasurer, stated that the modification provided a chance to achieve a good balance.

He told reporters in Melbourne, “The monarch will still remain on the coins, but the $5 note will speak more about our history, our heritage, and our country, and I regard that as a good thing.

Peter Dutton, the leader of the opposition, compared the action to moving Australia Day’s national holiday.

We need to hear more from those folks online, he said in an interview with 2GB Radio. “I know the silent majority don’t agree with a lot of the awakened bullshit that goes on,” he said.

The choice for the king not to appear on the note, according to Prime Minister Anthony Albanese, was crucial, according to Dutton, who urged him to “own up to it.”

By establishing a new position of assistant minister for the republic soon after entering office last year, Albanese began setting the foundation for an Australian republic, but his administration has not made conducting a referendum to sever constitutional links with Britain a top priority.

Before the $5 note is released to the public, the bank intends to interact with Indigenous organizations during the design process, a process that it anticipates will take several years.

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