 1 Lewes pound banknote | |
| Demographics | |
|---|---|
| User(s) | Lewes, East Sussex |
The Lewes pound is a local currency in use in the town of Lewes, East Sussex. Inspired by the Totnes pound and BerkShare, the currency was introduced with the blessing of the town council in September 2008 by Transition Town Lewes as a community response to the challenges of climate change and peak oil.
Lewes first introduced its own currency in 1789, but this was discontinued in 1895 along with a number of other local currencies. [1] Its reintroduction in September 2008 achieved national media coverage.
On 3 July 2009, it was announced that the scheme was to be extended and that new notes of £5, £10 and £21 denominations would be issued. [2] The £21 note emphasises the fact that five pence of each Lewes pound bought goes to the local charity the Live Lewes Fund. [3]
As of 2017 [update] , notes in circulation are:[ citation needed ]
A special issue was printed for the 750th anniversary of the Battle of Lewes in mid-2014. [4]
The value of the Lewes Pound is fixed at £1 stg, and in January 2023 could be used in any of approximately 100 shops and businesses in Lewes, many more than envisaged when the currency was first introduced. [5] Occasionally local businesses give a discount for payment in Lewes Pounds, though this happens less in these difficult financial times. Some of the earliest notes were sold on eBay for substantially higher values, which led the Lewes Pound CIC to start selling collectors packs of LPs to help fund its operations. [6] Comment from the Lewes Pound CIC - "Despite claims to the contrary in The Times, it is clear that a so-called tourist attraction does bring more visitors into Lewes, who do then spend money in local restaurants and shops."
The front features a picture of the South Downs with an image of Lewes resident Thomas Paine and a quotation of his: "We have it in our power to build the world anew". On the back is a picture of Lewes Castle. [7] The notes are printed on traditional banknote paper and have a number of security features including unique numbering, watermarks and heat marks. [8]
The Lewes pound and the Transition Towns movement have received criticism for a failure to address the needs of the wider Lewes population, especially lower socio-economic groups. [9] Such local currency initiatives have been more widely criticised in light of limited success in stimulating new spending in local economies and as an unrealistic strategy to reduce carbon emissions. [10]
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The terms transition town, transition initiative and transition model refer to grassroot community projects that aim to increase self-sufficiency to reduce the potential effects of peak oil, climate destruction, and economic instabilitythrough renewed localization strategies, especially around food production and energy usage. In 2006, the founding of Transition Town Totnes in the United Kingdom became an inspiration for other groups to form. The Transition Network charity was founded in early 2007, to support these projects. A number of the groups are officially registered with the Transition Network. Transition initiatives have been started in locations around the world, with many located in the United Kingdom and others in Europe, North America and Australia. While the aims remain the same, Transition initiatives' solutions are specific depending on the characteristics of the local area.
The Stroud pound is a local currency in use in Stroud, Gloucestershire. Unveiled on 12 September 2009, the scheme is the third local currency scheme introduced in England in recent years after the Totnes pound and the Lewes pound.
Fiscal localism comprises institutions of localized monetary exchange. Sometimes considered a backlash against global capitalism or economic globalization, fiscal localism affords voluntary, market structures that help communities trade more efficiently within their communities and regions.
The Bristol pound (£B) was a form of local, complementary, and/or community currency launched in Bristol, UK on 19 September 2012. Its objective is to encourage people to spend their money with local, independent businesses in Bristol, and for those businesses to in turn localise their own supply chains. At the point of the close of the digital scheme in August 2020, it was the largest alternative in the UK to official sterling currency, and is backed by sterling.
The Exeter pound (£E) was a form of local complementary currency, or community currency launched in Exeter, UK on 1 September 2015. Its objective was to ensure more money was spent with local and independent businesses. It was one of the many alternatives in the UK to the official sterling currency. It was discontinued on 30 September 2018.
