New £5 note design revealed

The Bank of England has released this new design concept for the new £5 note, which will go into circulation in 2016.

The design on the back of the note - which is yet to be finalised - will be centred around this portrait of the wartime prime minister, adapted from a photograph taken by Yousuf Karsh on 30 December 1941.

The new note, known colloquially as the lady ('Lady Godiva' - 'fiver'), will also include:

• The Churchill 1940 quote from a famous speech: "I have nothing to offer but blood, toil, tears and sweat"
• A view of Westminster and Big Ben from the South Bank of the River Thames in London
• The clockface showing 3pm (the time he made the speech)
• A background image of the Nobel Prize for literature which Churchill was awarded in 1953

It will be the second time Churchill has appeared on British money, having previously been featured on the 1965 five shilling coin. He will replace philanthropist and penal reformer Elizabeth Fry on the new £5. This means the Queen will be the only remaining female face to appear on UK currency.

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What do you think of the new design concept? Let us know in the comments!