Tom Elliott has taken exception to the new change on the $5 note, with Queen Elizabeth II set to be removed, but King Charles will not feature on the new note.

The Reserve Bank of Australia has consulted with Indigenous groups, with the new note set to honour First Nations ties to the country.

“Now I have a problem with this, I do,” the 3AW Mornings host said.

Press PLAY to hear him take exception to the change

“We should honour the monarch, it’s one note!” he said.

“What about consulting to the broader community?”

National Chairman of the Australian Monarchist League, Philip Benwell, told Tom Elliott the change the note is something he anticipated the Labor government would do.

“(Anthony) Albanese has been far worse than (Paul) Keating was, and he was bad enough,” Mr Benwell said on 3AW Mornings.

Press PLAY to hear his full thoughts

Image: Reserve Bank of Australia/Getty