LONDON -- Paper or plastic? No, not what kind of bag do you want your purchases in; it's what kind of money you’ll use to pay for them, at least in Britain.
The Bank of England announced Wednesday that, beginning in 2016, it will start issuing polymer banknotes -- in other words, plastic money -- in place of the paper kind. New five-pound bills put into circulation that year will not only feature a portrait of Winston Churchill but should be more resistant against wear and tear and unintended journeys through the washing machine.
The switch to plastic is expected to save money, in more ways than one. The polymer banknotes should last at least 2 1/2 times longer than paper ones, officials say. And that means printing costs will be less in the long run. /L A Times
