The Bank of England - who control notes for both England and Wales - has announced Austen will be the latest historical figure to appear on a banknote, although the updated design is not expected to enter circulation until 2017.

The announcement follows the earlier announcement that Winston Churchill will be the next face of the £5 note, with the revision expected in 2016. The decision had proved controversial, as Churchill will ‘replace’ Elizabeth Fry - currently the only woman featured on pound notes, other than the standard portrait of the Queen that appears on the front of every note.

BoE have also announced a review of the ‘character selection process’ for new notes. Caroline Criado-Perez, who had led the campaign for more of a female presence on currency, told BBC “we warmly welcome this move from the Bank and thank them for listening to us and taking such positive and emphatic steps to address our concerns. To hear Jane Austen confirmed is fantastic, but to hear the process will be comprehensively reviewed is even better.”

Sterling banknotes are typically redesigned every ten to twenty years, and have featured historical figures ever since William Shakespeare’s prominence on the £20 note back in 1970. Darwin is the current face of the £10 note and has been since 2000, having followed Charles Dickens and Florence Nightingale.

Both the £20 (Adam Smith) and £50 (Matthew Boulton and James Watt) notes have been updated more recently, in 2007 and 2011 respectively. When updated, notes also usually include more advanced security features.