Business leaders mull case for Brighton pound (From The Argus)
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Business leaders mull case for Brighton pound
4:56pm Wednesday 14th November 2012 in Business News By John Keenan, business editor
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)
PorkBoat
says...
5:23pm Wed 14 Nov 12
leobrighton
says...
5:33pm Wed 14 Nov 12
Laserluke
says...
5:34pm Wed 14 Nov 12
NickBtn
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5:55pm Wed 14 Nov 12
Hovite
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6:02pm Wed 14 Nov 12
sasquatch2202
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6:35pm Wed 14 Nov 12
paul76
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6:49pm Wed 14 Nov 12
Tallywhacker
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7:07pm Wed 14 Nov 12
bluemonday
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7:15pm Wed 14 Nov 12
george smith
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8:38pm Wed 14 Nov 12
Fight_Back
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8:56pm Wed 14 Nov 12
Laserluke wrote: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 !
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.
Bonfyl
says...
9:29pm Wed 14 Nov 12
Joshiman
says...
9:51pm Wed 14 Nov 12
Joshiman
says...
9:51pm Wed 14 Nov 12
PorkBoat
says...
10:02pm Wed 14 Nov 12
sasquatch2202 wrote:That's ruff.
My dog was taken to the Brighton pound once,he didn't like it.
Thatsjustyummy
says...
10:09pm Wed 14 Nov 12
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.
Man With No Name
says...
11:28pm Wed 14 Nov 12
nemenator
says...
12:18am Thu 15 Nov 12
Plantpot
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9:42am Thu 15 Nov 12
HJarrs
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9:55am Thu 15 Nov 12
Some will use a local currency, some will need to see it working first, others will not trust it.
Morpheus
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10:11am Thu 15 Nov 12
Argus
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10:14am Thu 15 Nov 12
funkyyoyo
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11:25am Thu 15 Nov 12
Josephine Jaillet
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10:44pm Sun 18 Nov 12
HJarrs wrote:Yes look up Worgel Miracle:-
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.
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
says...
10:54pm Sun 18 Nov 12
Argus wrote: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.
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?
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/
mustaphaLeeko says...
5:02pm Wed 14 Nov 12
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!