Bank of England spent £50,000 on branding change to be ‘more inclusive’ of Wales and others
The Bank of England spent £50,000 changing its brand, including a logo change from the flag of England to the Union Jack to be “more inclusive” of Wales, Scotland and Northern Ireland.
The Bank, which recently appointed Welshman Huw Pill as its Chief Economist, changed Britannia’s shield from the flag of St George to that of the union flag last month.
A Freedom of Information request found that the bank spent nearly £50,000 on the entire rebrand. Other elements of the rebrand beyond the logo included a new font.
The bank’s website says that they have “made our Britannia symbol more inclusive”.
“Britannia is the female personification of the British Isles. She has been our symbol since we were founded in 1694. We wanted a new Britannia that reflects our current mission and values.”
The bank was formed back in 1694 – when Wales was legally part of England and Scotland was yet to join the UK.
Wales is the only UK nation not represented in the design of the union flag, which was adopted in 1801 to incorporate elements of the flags of England, Scotland and the red saltire of St Patrick to represent Ireland.
Bank of England Governor Andrew Bailey said: “The Bank of England has been around for hundreds of years, but it embraces advances in digital technology.
“These advances have brought many benefits. One is that it brings us closer to the public we serve. We know this means we have to explain what we do and why.
“How we communicate is part of how we carry out our mission. We intend to keep trying to make our communications more inclusive and accessible for everyone.”
They have also removed the large pile of money sitting by her feet, and she faces the viewer rather than offering her olive branch of peace to unknown individuals to her left.
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