Lewes in East Sussex has introduced its own currency, the Lewes Pound, to encourage residents to shop locally and support the town's economy. More than 70 local traders have agreed to accept the notes, which are worth one pound sterling each and can only be redeemed at participating stores.
Up to 10,000 one Lewes Pound notes have been designed and were unveiled at a launch event at Lewes Town Hall. Organisers from the Lewes Pound Group, part of Transition Town Lewes, say the initiative aims to increase community pride, reduce CO2 emissions, and boost economic resilience amid the downturn.
Oliver Dudok van Heel of the Lewes Pound Group said: 'There will always be a need for a national currency, but it's a question of promoting what can be done locally.' The move revives a tradition from 1789 to 1895 when Lewes had its own currency.
Similar complementary currencies exist elsewhere, including Totnes in Devon and Berkshire, Massachusetts, where one million Berkshares have circulated. The Lewes pilot scheme runs until August next year, after which a review will determine its future.
Lewes Mayor Michael Chartier, who officially launched the local pound, said: 'The idea behind it is to encourage as many local people as possible to shop locally. Lewes has a tradition of small shops and hasn't got a large number of major chain stores.'
