King Charles will not appear on Australian banknote as Queen Elizabeth II’s portrait is replaced
Queen Elizabeth II will no longer appear on the Australian $5 banknote and King Charles III will not replace her, the Reserve Bank of Australia (RBA) said on Thursday.
Her Majesty’s portrait will be swapped for an updated design which “honours the culture and history of the First Australians”, according to a statement from the RBA. An image of the Australian Parliament will remain on the reverse side of the banknote.
King Charles III, whose coronation is scheduled for 6 May 2023, will not appear on any Australian banknotes.
Treasurer Jim Chalmers said: “It’s an important opportunity to recognise, on the A$5 note, more of our indigenous heritage and history and culture going back tens of thousands of years. And you know, it’s no secret that I would like to see Australia become a republic.”
Opposition leader Peter Dutton said the decision is “another attack on our systems, on our society and our institutions” and the “silent majority” would be unhappy with it.
The late Queen Elizabeth has featured on every Australian banknote series since her coronation in 1953.
Her death in September last year has triggered Australian republic supporters to call for the removal of royals from banknotes and thrown the nation’s future as a constitutional monarchy into question.
Australia’s left-leaning Labor government, elected in May 2022, is pushing to hold a referendum which could change the constitution and establish an Indigenous body in parliament.
Following this, Prime Minister Anthony Albanese’s government plans to hold a vote to gauge Australians’ demand for a republic.
Australia narrowly voted in favour of keeping the British monarch as its head of state in a 1999 referendum.
While the new design is under consultation with First Australians, the RBA will continue to issue the current A$5 note, which also features aboriginal art.
The First Australians are the ethnic groups that lived in Australia prior to British colonisation.