Monday, 24 March 2014

An Exeter Pound?

People are being asked if they think a currency for the city of Exeter would be a good idea or not:


Do you think Exeter should have its own local currency? 

Bristol and several other towns and cities in the UK have their own currencies alongside sterling, to encourage people to shop local.  £1 spent in a local business results in £1.72 spending in the local economy - whereas £1 spent in a national or international business contributes only 39p.
Transition Exeter has been investigating whether an Exeter Pound would be a good idea.  We have found potential support from independent businesses and the City Council, who believe it would encourage people to buy from local businesses and foster local identity. What do you think about the idea?  If you haven't already done the survey, tell us here:


An Exeter Pound, if the scheme goes ahead, could be bought for sterling, one for one, from a service point and could be used in local businesses and to pay council tax and business rates.  If employers join the scheme, individuals could choose to have part of their salary (eg £100) in Exeter Pounds.  Members can have an Exeter Pounds internet banking account in the same way as for sterling, and can pay for their purchases by bank transfer, mobile phone text or paper currency. Traders joining have accounts too, and they can change earnings back into sterling if they don’t want to spend them on supplies, rates etc. 
The purpose of a local currency is to:
  • support local independent businesses
  • keep money circulating in the local economy, to boost local jobs
  • help people be aware where they can spend to support the local economy and community
  • foster resilience: help develop an economy that survives better even if there is another economic crisis, or energy prices escalate and drive up transport costs
What do you think?  Please click this link and give us your answer to two or three simple questions. Whether you think it’s a good idea or not, we’d like to know your opinion so far.  Many thanks.

An Exeter Pound? | Transition Exeter

It seems to be working well in Bristol where it was launched in September 2012:

Latest News

Everybody is talking about the Bristol Pound, here's some of our latest news. You can also see what else we are up to by visiting our blog.

Community energy and currency join together to make Bristol greener

Posted 25/02/2014
In an exciting new development for community currencies and community energy, Bristol Energy Coop has become the first Energy Coop to join the Bristol Pound scheme, enabling Bristol people to buy community green energy shares using their own local currency.

Bristol is praised for its "ambitious vision for the future"

Posted 01/08/2013
Minister for Civil Society spends some Bristol Pounds (£B's) at Watershed while praising Bristol for its passion and "ambitious vision for the future" and Mayor George Ferguson buys an electric bike from Atmosphere Electric Bikes using £B's to help him with his duties across the city.

Bristol MPs join Bristol Pound and commit to spend £B50 of their salary every month.

Posted 16/03/2013
On Friday 15th March, three Bristol MPs - Charlotte Leslie, Kerry McCarthy and Stephen Williams – visited Bristol Credit Union to open their Bristol Pound accounts. Each MP has committed to spending a minimum of £B50 per month from their own Parliamentary salaries and with their £B accounts they will be able to spend it by texting from their mobile phones.

BristolPound - Our City. Our Money
Bristol Pound - Wikipedia, the free encyclopedia

No comments: