Having already got a rough idea of the colour scheme, I thought it would be helpful to make a colour swatch so that I could get an idea of how each colour works together and which shades to use, as I don't specifically have to stick to the original Union Jack colours, it could be any shade of red or blue.
This is the first colour scheme that I came up with. These colours will definitely work, however I think the blue needs to be darker, and the red needs to be brighter.
This is the next colour swatch. This is definitely the red that I will print and design my banknotes with as it's bright, and it will also be an ink that I won't have to mix, meaning it will definitely be bright. However, I don't think the blue is dark enough still.
I decided I would revert back to the Union Jack colours, as they are the most contrasting and I believe that they will work really successfully together in a screen print.