De la Rue to print the UK's polymer pounds

As expected the Bank of England (BoE) has announced that banknote printer De la Rue is the "preferred bidder" for the new polymer 5 and 10 pound notes, which basically means De la Rue is going to print them. De la Rue lost out on a bid to provide the polymer sheets (which went to Innovia) but it was widely expected to retain the order to print the pounds, which it has been doing for the past decade.

The new notes will be smaller (by around 15%). The first polymer note to be printed and issued will be the £5 note with the image of Sir Winston Churchill. This note will enter circulation in 2016, shortly followed by the £10 note with the image of Jane Austen.

Update 15 October 2014: De la Rue has now been officially chosen as the printer for the next series of British pound notes. The contract is valid for the next 10 years.