New £50 banknote in circulation

The new Bank of England £50 banknote featuring Matthew Boulton and James Watt has been put into circulation.

The pair feature on the new note partly because they were instrumental in manufacturing coins that were difficult to counterfeit.

The banknote, which includes a number of new security features, will eventually take over from the note carrying Sir John Houblon's portrait.

Simon Gompertz reports.