International Business News – Australia’s deputy treasury minister Andrew Leigh said on 13, after the death of Commonwealth head of state Elizabeth II, originally printed on the 5 Australian dollar bill the Queen’s head will not be “automatically” replaced by the successor head of state Charles III, may be replaced by a native Australian representative.
Australia is a member of the Commonwealth and considers the British monarch to be the head of state. Under current law, Australian coins must bear the head of the British monarch, but banknotes are not subject to this rule. According to Andrew Leigh, the Australian side printed the head of Elizabeth II on the A$5 bill, not because of the other party’s monarchy, but to show respect for the Queen personally, so if the decision is made to replace the head, it will not be “automatically” replaced with the new King of England.
When asked by reporters whether the Australian government is considering replacing the avatar with an Australian celebrity, Andrew Leigh said the government will discuss this, “there is no rush to make a decision, the first priority is to change the design of the coin”.
The Australian Mint announced on the same day that it will not issue any circulating coins with Elizabeth II’s image next year. Since Elizabeth II’s coronation in 1953, Australia has issued a total of about 15 billion Australian dollars worth of coins with the Queen’s portrait.
Reuters reports that Elizabeth II’s death has reignited the debate in Australia and other Commonwealth countries on whether to abolish the constitutional monarchy and replace it with a republic. In a 1999 referendum, Australian voters opted to continue with the British monarch as head of state, with a narrow margin of support and opposition votes at the time.