The paper version of the £5 banknote will be replaced in 2016 with ones made from polymer, a flexible plastic film.
At that time, more than one billion plastic notes will enter circulation.
The announcement came from the Bank of England which confirmed its plans to produce £5 and £10 notes in the plastic.
A Former Secretary of State at the Treasury, Carlos Costa Pina, said today that the report resulting from the investigation into the ‘swaps' financial instruments is an "unsurprising whitewash" to clear the current government of any responsibility.
Speaking to media today, Costa Pina said that the new report was not surprising because it just repeats the fictional account, developed by the current government, that existed before the commission of inquiry started."
It is being put forward as an ecologically sound cost-saving programme as Estradas de Portugal SA plans to switch off much of the country's road lighting in an attempt to save on a €1 million annual electricity bill.
The cash-strapped company manages 14,500 kilometers of roads in Portugal and is to reduce the number of hours the road lights are on. Lights will be turned off all night on sections of road which the company deems have insufficient traffic volume.
Three ex-bosses of the Association PME-Portugal have been accused of a €7 million fraud following an investigation by the Judicial Police and the General Inspection of Finance, which has been going on for five years.
Missing funds at the community support scheme for vocational training were highlighted by three former employees who went to the authorities.
A helicopter has crashed in an area to the west of the town of Monchique, leaving one dead and two injured.
The accident happened at around 2.30 pm today according to the National Authority for Civil Protection.
A three car pile-up outside the Giga Garden Centre near Algarve Shopping in Guia on Tuesday afternoon closed the road while police and emergency services rushed to the scene.
All drivers and passengers were wearing seatbelts, and airbags helped to cushion the impact that left the vehicles severely damaged or write-offs.
Drug use among the Portuguese population has been in decline, but there are some worrying trends especially among women and young people, according to a new report.
‘The Situation in the Country for Drugs and Dependency 2012’ reveals that between 2007 and 2012 overall drug use is down, but over the same period consumption has increased in some female age groups, contrary to the general pattern, which gives rise to ‘new challenges for the future.’
The Energy Services Regulatory Authority will continue "to defend the rights of consumers" in court proceedings brought by EDP which is contesting an instruction to pay €7 million in compensation to customers on bi and tri-hourly tariffs.
EDP has resorted to court in an attempt to avoid paying the compensation to customers who were disadvantaged by the widespread inaccuracy of the meters which had their clocks set incorrectly.
