WELLINGTON (AFP) ― New Zealand will hold a binding referendum in 2016 on changing the national flag, with Prime Minister John Key hoping to drop the current design featuring Britain’s Union Jack in favor of a silver fern.

Key announced a schedule Wednesday for New Zealanders to vote on the contentious issue, saying it was time for the former British colony to adopt a flag that was more recognisably Kiwi after more than a century with the existing banner.

“Our flag is the most important symbol of our national identity and I believe that this is the right time for New Zealanders to consider changing the design to one that better reflects our status as a modern, independent nation,” he said in a statement.

Key has previously said he would like to see a new flag featuring a silver fern on a black background, similar to the banner already used by many New Zealand teams such as the All Blacks national rugby side.

The center-right leader vowed to press on with plans for a change after convincingly winning a third term in a general election last month, despite opposition from some quarters, such as veterans groups.

Key has estimated the chances of achieving change at “50-50” but opinion polls show most New Zealanders want to retain the existing flag.

A TVNZ survey in February found 72 percent were against change, with 28 percent in favor. Another poll by the New Zealand Herald in March put the figures at 52.6 against and 40.6 for, with the rest undecided.