That I can recall I have never had £50 note. To be honest, I can think of no need for one. And if I had such a need I can also think of no reason why two £20 notes and a £10 note would not do just as well.
I very strongly suspect most readers of this are in a similar position. Even recalling the colour of a £50 note would challenge most people (it’s red). So why do we have it when it is used so little?
By far the best justification for the £50 note is that it makes illicit activity – from drug dealing to tax evasion – so much easier. Any other use it might have is incidental, in my view, to that purpose.
£50 is, these days, perhaps 10 drinks. A decent round or a good breakfast. Thus we know who is BillyNoMates around here.
Or even, the populace finds that £50 notes are useful, government at least tries to produce what the populace finds useful….