A spokesperson for the Bank of England has confirmed that the new £20 note that is due to enter circulation in Spring 2019 will be nicknamed ‘THE VINGTER’ as a tribute to the United Kingdom’s time in the European Union.

‘Vingt’ is the French word for ‘twenty,’ and a source within the bank has told Southend News Network that the decision will allow the EU to retain a ‘small amount of legacy and cultural identity’ in the British financial system.

The polymer plastic based note, which will feature the painter J.M.W Turner, is due to enter circulation at roughly the same time that the United Kingdom leaves the European Union – the Article 50 deadline is at the end of March 2019.

Our source added: ‘Up until now, £5 notes have been called ‘fivers,’ and £10 notes have been called ‘tenners,’ but there has never really been a proper slang word attached to the £20 note – all of that is about to change.’

‘Leaving the European Union in March 2019 means that this is the perfect opportunity to retain a small amount of EU-led culture in Britain, and there is no better way to do this than to use a word of one of the political union’s official languages.’

‘We did consider German as well, but ‘zwanzig’ has two syllables and ‘vingt’ in French just fit a lot better.’

We asked him how the people of Britain can ensure that they pronounce the new note name correctly.

He said: ‘It’s pretty simple really. You just say ‘van’ as in a Ford Transit and then add ‘ter’ at the end.’

A leaked email that has been seen by Southend News Network shows that an application has been made by the Bank of England for the words ‘fiver,’ ‘tenner’ and ‘vingter’ to be added to the official economic terminology of the United Kingdom.

Using unique powers that are allocated to the Bank of England under parliamentary law, an attached document reveals that MPs will debate introducing the Sterling EU Cultural Legacy Act when parliament returns in the Autumn.

House of Commons and House of Lords tradition dictates that the motion will pass with an assumed majority.

Speaking about the decision, the ex-Prime Minister Tony Blair said that he was ‘delighted’ with the decision by the Bank of England.

He added: ‘This is just the beginning. Once the British people are able to hold a little piece of EU history in their wallets, pockets and purses, it will sow the first seeds of desire to return to the European Union.’