Charlotte Foster
Money & Banking

"And so it begins": Royal expert predicts the end of Australia's relationship with the Crown

A royal expert has claimed that King Charles could be ditched as Australia's Head of State, after it was announced his portrait will not feature on the new $5 notes. 

In a historic move, the Commonwealth country will erase the British monarch from its banknotes, but instead replace the image of the late Queen Elizabeth with a design honouring First Nations Australians and their rich culture. 

Anti-royalists hailed the decision as a step towards a republic Down Under, while Peter Hunt, the BBC's former royal correspondent, ominously tweeted, "So it begins. Slowly."

King Charles is still set to appear on coins when they are released later in 2023, but will not feature on any banknotes like previous monarchs. 

The central bank said its decision was supported by the centre-left Labor government of Prime Minister Mr Albanese, who favours an eventual move to an Australian republic.

Despite Albanese's stance, he has said a referendum will not be held in the near future.

The Reserve Bank of Australia has not set a date for the new currency, but confirmed Charles would not be on it after "consultation with the Australian government, which supports this change".

Officials had claimed there had never been any guarantee that King Charles would replace his late mother on the new iteration of Australia's $5 note. 

Liberal leader Peter Dutton said of the change, "There's no question about this that it's directed by the government and I think the Prime Minister should own up to it. He would have been central to the decision-making."

"I think it's another attack on our systems, on our society and our institutions."

The popularity of the royal family has consistently fallen in Australia since the death of Queen Elizabeth in September 2022, and has continued with the public bickering within the family since the release of Prince Harry's memoir Spare

Image credits: Getty Images

Tags:
money & banking, King Charles, $5 note, Head of State