The $5 note will be redesigned to replace the portrait of Queen Elizabeth II with a design that honours “the culture and history of the First Australians”.

The Reserve Bank Board announced the decision this morning, following consultation with the federal government.

“I haven’t changed my opinion since, leave her alone. Leave the Queen on the $5 note,” Millsy said on 6PR Breakfast.

Press PLAY to hear Millsy and Karl announce the news