The decision by the Reserve Bank of Australia (RBA) to remove the portrait of King Charles III from the new $5 bill has sparked strong reactions among monarchists, who accuse the federal government of covertly trying to turn Australia into a republic.
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The new banknote will feature the theme “Connection to Country,” a tribute to the culture and history of Aboriginal peoples. The central bank had already announced in 2023 that King Charles III would not replace the late Queen Elizabeth II on the bill. After more than 2,100 submissions, representatives from the RBA and Aboriginal groups decided on the new design, making it the first version of the bill without a royal portrait. However, an image of the Australian Parliament will still be featured on one side of the note.
The exclusion of King Charles III has angered supporters of the monarchy. Philip Benwell, president of the Australian Monarchist League, criticized the decision:
“The king is still the king of Australia until the people decide otherwise, and a government should not start removing images of the king.”
Benwell accused Prime Minister Anthony Albanese’s government of planning a new referendum to turn Australia into a republic if re-elected. In 1999, a referendum on amending the constitution to establish a republic was rejected by 54% of Australian voters. He also cited the failure of the 2023 Indigenous Voice referendum as proof that the government disregards the will of the people.
“We are established under the Crown, the king wears the crown, the king is the king of Australia, and the government should not forget that or leave the king aside.”
Despite their outrage over the exclusion of the monarch, the monarchists state that they have no issue with Aboriginal art on the new bill, as long as the king’s portrait remains.
The decision reignites the debate over the monarchy in Australia, with monarchists warning of a potential government move to sever ties with the British Crown. The federal government, meanwhile, has yet to comment on the controversy.
This content was created with the help of AI and reviewed by the editorial team.
