The ArgusBusiness leaders mull case for Brighton pound (From The Argus)

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Business leaders mull case for Brighton pound

Council and business leaders are examining a scheme to introduce a local currency for Brighton. Plans for the Brighton Pound will be unveiled at an event at the Hilton Brighton Metropole Hotel in Kings Road tomorrow. Preliminary discussions have already begun with East Sussex Credit Union, experts on local currencies and the founders of a similar scheme in Bristol.

Tony Greenham of the New Economics Foundation will hold a workshop on how the Brighton Pound could work.

Tony Mernagh, the executive director at Brighton and Hove Economic Partnership, will give a presentation on the local context.

Brighton Pavilion MP Caroline Lucas said: “A local pound could help build a stronger bond between shops and customers.

“This would help our economy through a local multiplier effect – retaining more of the wealth generated in the city for longer.

“If enough traders and companies signed up, a new currency could energise local commerce.

“There could be environmental benefits too. More demand for local produce would, in the long term, reduce demand for goods bought in from further afield.”

Mr Greenham said: “The recent launch of the Bristol pound, which includes a low-cost mobile phone payment system for Bristol traders, has raised the profile of local currencies as a means of boosting local demand and levelling the playing field for local small businesses

Comments (26)

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5:02pm Wed 14 Nov 12

mustaphaLeeko says...

What an utter load of rubbish!

I spend my money where I spend it, I'm not going to be restricted to spending it solely in shops that support it, stuff that for a game of soldiers!

Typical of the Green mp to support nonsense like this, try REDUCING parking charges that would help the local economy and bring in business!
What an utter load of rubbish! I spend my money where I spend it, I'm not going to be restricted to spending it solely in shops that support it, stuff that for a game of soldiers! Typical of the Green mp to support nonsense like this, try REDUCING parking charges that would help the local economy and bring in business! mustaphaLeeko
  • Score: 0

5:23pm Wed 14 Nov 12

PorkBoat says...

The Green Party think it's a good idea. That means it's not a good idea.
The Green Party think it's a good idea. That means it's not a good idea. PorkBoat
  • Score: 0

5:33pm Wed 14 Nov 12

leobrighton says...

Cue the Arsegas website moaners
Cue the Arsegas website moaners leobrighton
  • Score: 0

5:34pm Wed 14 Nov 12

Laserluke says...

Great idea. Keeping money in the City has got to be a help. I hope the businesses that sign up try and add extra value to the currency in the form of discounts. Otherwise it could struggle to take off.
Great idea. Keeping money in the City has got to be a help. I hope the businesses that sign up try and add extra value to the currency in the form of discounts. Otherwise it could struggle to take off. Laserluke
  • Score: 0

5:55pm Wed 14 Nov 12

NickBtn says...

Will the parking meters accept it? It'll need to be in large denominations if so :)
Will the parking meters accept it? It'll need to be in large denominations if so :) NickBtn
  • Score: 0

6:02pm Wed 14 Nov 12

Hovite says...

Great idea, we give the council real money and they exchange it for for Brighton Groats.
Great idea, we give the council real money and they exchange it for for Brighton Groats. Hovite
  • Score: 0

6:35pm Wed 14 Nov 12

sasquatch2202 says...

My dog was taken to the Brighton pound once,he didn't like it.
My dog was taken to the Brighton pound once,he didn't like it. sasquatch2202
  • Score: 0

6:49pm Wed 14 Nov 12

paul76 says...

These nutters get worse. Maybe they are quickly trying to think up loads of stupid ideas before they get voted out at the next election.
These nutters get worse. Maybe they are quickly trying to think up loads of stupid ideas before they get voted out at the next election. paul76
  • Score: 0

7:07pm Wed 14 Nov 12

Tallywhacker says...

maybe they should pay council staff in these pounds so they help the local shops.
maybe they should pay council staff in these pounds so they help the local shops. Tallywhacker
  • Score: 0

7:15pm Wed 14 Nov 12

bluemonday says...

cities wanting there own currency,others wanting independence,i think this nation is just about finished
cities wanting there own currency,others wanting independence,i think this nation is just about finished bluemonday
  • Score: 0

8:38pm Wed 14 Nov 12

george smith says...

As if anyone could afford to go into Brighton to spend it
As if anyone could afford to go into Brighton to spend it george smith
  • Score: 0

8:56pm Wed 14 Nov 12

Fight_Back says...

Laserluke wrote:
Great idea. Keeping money in the City has got to be a help. I hope the businesses that sign up try and add extra value to the currency in the form of discounts. Otherwise it could struggle to take off.
Why would anyone buy Brighton pounds and restrict their ability to spend such money to a small area ? It would be much more beneficial to local business if it were more attractive to get to the shopping areas. Maybe lowering parking fees, reducing bus charges and making it easier to get into town would be more beneficial than some harebrained idea like this !
[quote][p][bold]Laserluke[/bold] wrote: Great idea. Keeping money in the City has got to be a help. I hope the businesses that sign up try and add extra value to the currency in the form of discounts. Otherwise it could struggle to take off.[/p][/quote]Why would anyone buy Brighton pounds and restrict their ability to spend such money to a small area ? It would be much more beneficial to local business if it were more attractive to get to the shopping areas. Maybe lowering parking fees, reducing bus charges and making it easier to get into town would be more beneficial than some harebrained idea like this ! Fight_Back
  • Score: 0

9:29pm Wed 14 Nov 12

Bonfyl says...

Sounds more like nectar points than pounds: " ... build a stronger bond between shops and customers." There are other ways to do this. Not sure this is more than just a gimmick.
Sounds more like nectar points than pounds: " ... build a stronger bond between shops and customers." There are other ways to do this. Not sure this is more than just a gimmick. Bonfyl
  • Score: 0

9:51pm Wed 14 Nov 12

Joshiman says...

What nonsense.
What nonsense. Joshiman
  • Score: 0

9:51pm Wed 14 Nov 12

Joshiman says...

What nonsense.
What nonsense. Joshiman
  • Score: 0

10:02pm Wed 14 Nov 12

PorkBoat says...

sasquatch2202 wrote:
My dog was taken to the Brighton pound once,he didn't like it.
That's ruff.
[quote][p][bold]sasquatch2202[/bold] wrote: My dog was taken to the Brighton pound once,he didn't like it.[/p][/quote]That's ruff. PorkBoat
  • Score: 0

10:09pm Wed 14 Nov 12

Thatsjustyummy says...

Oh I think some of you are being a little harsh on the idea.

After all Brighton has a history of copying other places to attempt to benefit itself. (that wheel thing, the i360, the whole ridiculous "City" status to name a few)

The Lewes pound worked (note 'past tense) because people in Lewes WILL NOT tolerate "change" and want to keep Lewes very 'close' (this in itself is a worry)

But a TOURIST TOWN that has a big emphasis on "Travel-by-rail-beca
use-if-you-come-by-c
ar-we-will-RAPE-your
-money" day trippers, how the hell can it work??

Do Mad Dog Lucas and her cronies really believe that people, when they arrive by train, will swop their hard earned (take a note at that Lucas, "HARD EARNED"....no, you wouldn't have a clue what that means would you?) REAL money for some phoney money that can only be spent in Veggie Shoes or the Alternative Supermarket (after all in a so-called commercial city I can't see many of the big traders really giving a toss about the B Right On Pound)

Then when they head home there's nowhere to change it back into real money?

This scenario might be fine when you're a publicly funded official (or a waste of tax payers money as you are Ms Lucas) and you don't care about what you spend OTHER PEOPLE'S MONEY on but in the real world, people might just take a step back and say "No thanks"

So that's probably another half a million you and your useless team of muppets has wasted on this ridiculous excersise.
Oh I think some of you are being a little harsh on the idea. After all Brighton has a history of copying other places to attempt to benefit itself. (that wheel thing, the i360, the whole ridiculous "City" status to name a few) The Lewes pound worked (note 'past tense) because people in Lewes WILL NOT tolerate "change" and want to keep Lewes very 'close' (this in itself is a worry) But a TOURIST TOWN that has a big emphasis on "Travel-by-rail-beca use-if-you-come-by-c ar-we-will-RAPE-your -money" day trippers, how the hell can it work?? Do Mad Dog Lucas and her cronies really believe that people, when they arrive by train, will swop their hard earned (take a note at that Lucas, "HARD EARNED"....no, you wouldn't have a clue what that means would you?) REAL money for some phoney money that can only be spent in Veggie Shoes or the Alternative Supermarket (after all in a so-called commercial city I can't see many of the big traders really giving a toss about the B Right On Pound) Then when they head home there's nowhere to change it back into real money? This scenario might be fine when you're a publicly funded official (or a waste of tax payers money as you are Ms Lucas) and you don't care about what you spend OTHER PEOPLE'S MONEY on but in the real world, people might just take a step back and say "No thanks" So that's probably another half a million you and your useless team of muppets has wasted on this ridiculous excersise. Thatsjustyummy
  • Score: 0

11:28pm Wed 14 Nov 12

Man With No Name says...

Apart from the obvious, I spend most of my money on the internet. Going shopping in Brighton appeals to me about as much as an STD
Apart from the obvious, I spend most of my money on the internet. Going shopping in Brighton appeals to me about as much as an STD Man With No Name
  • Score: 0

12:18am Thu 15 Nov 12

nemenator says...

The Brighton Pound can work because the banks have failed the community. Local money will soon stay in the community and not be siphoned off by bankers and major supermarkets. The local Credit Union can make sure the money works hard, along with the Council. The technology behind the scenes is robust and clever enough to outbank bankers and credit cards companies. We can expect mobile money, local shopping discounts, payments for bus travel and yes parking meters and a better Credit Union. Tourism should benefit if Brighton follows French examples. Give the hippy Greens a chance- only they can do this.
The Brighton Pound can work because the banks have failed the community. Local money will soon stay in the community and not be siphoned off by bankers and major supermarkets. The local Credit Union can make sure the money works hard, along with the Council. The technology behind the scenes is robust and clever enough to outbank bankers and credit cards companies. We can expect mobile money, local shopping discounts, payments for bus travel and yes parking meters and a better Credit Union. Tourism should benefit if Brighton follows French examples. Give the hippy Greens a chance- only they can do this. nemenator
  • Score: 1

9:42am Thu 15 Nov 12

Plantpot says...

No business will take the local currency exclusively. It will go out of business if it does. HMRC, utilities don't take toy money, nor do suppliers. Without significant discounting this has no legs, why use it otherwise?
No business will take the local currency exclusively. It will go out of business if it does. HMRC, utilities don't take toy money, nor do suppliers. Without significant discounting this has no legs, why use it otherwise? Plantpot
  • Score: 0

9:55am Thu 15 Nov 12

HJarrs says...

The question is have other local currency systems worked and if so, can the succesful schemes be replicated in B&H? If so, then that is clearly a good thing and we should give it a try. We do need to learn the lessons of other areas. Is the Lewes Pound still going? Has it been successful?

Some will use a local currency, some will need to see it working first, others will not trust it.
The question is have other local currency systems worked and if so, can the succesful schemes be replicated in B&H? If so, then that is clearly a good thing and we should give it a try. We do need to learn the lessons of other areas. Is the Lewes Pound still going? Has it been successful? Some will use a local currency, some will need to see it working first, others will not trust it. HJarrs
  • Score: 0

10:11am Thu 15 Nov 12

Morpheus says...

As usual, years late with an idea that has been tried elsewhere and achieves nothing. Our supposed leaders are really struggling for ideas. In this case they seem to think that printing toy money will make a difference, when the reality is we have no real money.
As usual, years late with an idea that has been tried elsewhere and achieves nothing. Our supposed leaders are really struggling for ideas. In this case they seem to think that printing toy money will make a difference, when the reality is we have no real money. Morpheus
  • Score: 0

10:14am Thu 15 Nov 12

Argus says...

My only question about it, would it be legal tender, could I go to Worthing or Eastbourne and use it, or would it be as useless as all of the euros I possess, waiting for me to go on holiday again?
My only question about it, would it be legal tender, could I go to Worthing or Eastbourne and use it, or would it be as useless as all of the euros I possess, waiting for me to go on holiday again? Argus
  • Score: 0

11:25am Thu 15 Nov 12

funkyyoyo says...

hmmm the royal bank of lucas !!! nahhh, how about go save the rats on galapagos islands instead,and perhaps take your squad of muppets with you, and stay!!!
hmmm the royal bank of lucas !!! nahhh, how about go save the rats on galapagos islands instead,and perhaps take your squad of muppets with you, and stay!!! funkyyoyo
  • Score: 0

10:44pm Sun 18 Nov 12

Josephine Jaillet says...

HJarrs wrote:
The question is have other local currency systems worked and if so, can the succesful schemes be replicated in B&H? If so, then that is clearly a good thing and we should give it a try. We do need to learn the lessons of other areas. Is the Lewes Pound still going? Has it been successful?

Some will use a local currency, some will need to see it working first, others will not trust it.
Yes look up Worgel Miracle:-

http://realcurrencie
s.wordpress.com/2012
/07/02/the-power-of-
demurrage-the-worgl-
phenomenon/

If the council prints 'Council Tax Pounds' and emits them say as expenses for Green Councillors, or council workers can accept them voluntarily as part or their wages, at par with sterling, then any local business that pays Brighton council tax, can safely accept them as payment. If the Council were to offer a discount to tax paid in its own CTax pounds, every local person and business would want them. This would ensure increased velocity, for each unit of currency circulating, and that council tax would be paid up faster.

Brighton council's accounts internally would be increased by the amount of new Btn CTax £'s emitted, without need for sterling taken out of circulation in safe deposits, as is the case with all the other existing so called 'transition town' complementary currencies, like the Lewes, Brixton, Bristol pounds etc.
[quote][p][bold]HJarrs[/bold] wrote: The question is have other local currency systems worked and if so, can the succesful schemes be replicated in B&H? If so, then that is clearly a good thing and we should give it a try. We do need to learn the lessons of other areas. Is the Lewes Pound still going? Has it been successful? Some will use a local currency, some will need to see it working first, others will not trust it.[/p][/quote]Yes look up Worgel Miracle:- http://realcurrencie s.wordpress.com/2012 /07/02/the-power-of- demurrage-the-worgl- phenomenon/ If the council prints 'Council Tax Pounds' and emits them say as expenses for Green Councillors, or council workers can accept them voluntarily as part or their wages, at par with sterling, then any local business that pays Brighton council tax, can safely accept them as payment. If the Council were to offer a discount to tax paid in its own CTax pounds, every local person and business would want them. This would ensure increased velocity, for each unit of currency circulating, and that council tax would be paid up faster. Brighton council's accounts internally would be increased by the amount of new Btn CTax £'s emitted, without need for sterling taken out of circulation in safe deposits, as is the case with all the other existing so called 'transition town' complementary currencies, like the Lewes, Brixton, Bristol pounds etc. Josephine Jaillet
  • Score: 0

10:54pm Sun 18 Nov 12

Josephine Jaillet says...

Argus wrote:
My only question about it, would it be legal tender, could I go to Worthing or Eastbourne and use it, or would it be as useless as all of the euros I possess, waiting for me to go on holiday again?
The design of the new Brighton Pound would only circulate between a closed network of business and individuals prepared to swap sterling for the Btn £. As such it will not flourish, the same as the existing so called 'transition town' complementary currencies, like the Lewes, Brixton, Bristol pounds etc., which all need sterling to be taken out of circulation in safe deposits boxes.

If the council goes a step further then the action starts...

It prints 'Council Tax Pounds' and emits them say as expenses for Green Councillors, or council workers can accept them voluntarily as part or their wages, at par with sterling, then any local business that pays Brighton council tax, can safely accept them as payment. If the Council were to offer a discount to tax paid in its own CTax pounds, every local person and business would want them.

Brighton council's accounts internally would be increased by the amount of new Btn CTax £'s emitted.

Its worked many times in history, for example during the Worgl Miracle

http://realcurrencie
s.wordpress.com/2012
/07/02/the-power-of-
demurrage-the-worgl-
phenomenon/
[quote][p][bold]Argus[/bold] wrote: My only question about it, would it be legal tender, could I go to Worthing or Eastbourne and use it, or would it be as useless as all of the euros I possess, waiting for me to go on holiday again?[/p][/quote]The design of the new Brighton Pound would only circulate between a closed network of business and individuals prepared to swap sterling for the Btn £. As such it will not flourish, the same as the existing so called 'transition town' complementary currencies, like the Lewes, Brixton, Bristol pounds etc., which all need sterling to be taken out of circulation in safe deposits boxes. If the council goes a step further then the action starts... It prints 'Council Tax Pounds' and emits them say as expenses for Green Councillors, or council workers can accept them voluntarily as part or their wages, at par with sterling, then any local business that pays Brighton council tax, can safely accept them as payment. If the Council were to offer a discount to tax paid in its own CTax pounds, every local person and business would want them. Brighton council's accounts internally would be increased by the amount of new Btn CTax £'s emitted. Its worked many times in history, for example during the Worgl Miracle http://realcurrencie s.wordpress.com/2012 /07/02/the-power-of- demurrage-the-worgl- phenomenon/ Josephine Jaillet
  • Score: 0

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