Standing room only at the Exeter Pound event

Wednesday nights Exeter Pound event at the BikeShed Theatre was a busy one, with a range of guests, and exciting news of the formation of the Exeter Pound Community Interest Company (CIC) 

It was a packed house at the Count Down to Community Money event with a wide range of guests from local councilors, local business people and members of the general public.

An excellent presentation by Martyn Goss detailing the current and future progress of the Exeter Pound. Followed by Victoria Hatfield from the Exeter City Council, talking about their supporting for the scheme. The event was rounded off with a question and answer session, with some interesting ideas and views on how the Exeter Pound should work.

The basic premise is that of a local currency, similar to the projects in Totnes, Bristol and Brixton, which have already proved popular. Feedback for the Exeter Pound is very positive, with 73% of respondents in a recent survey saying they would buy some of the Sterling backed currency.

Community engagement is high on the agenda for the group, already working in partnership with Exeter College and looking to work with the school’s and community groups across Exeter for their competition, due to launch yearly next year which will decide the designs for the notes.

The Exeter Pound is due to launch Autumn 2015, ready for the Rugby World Cup.

For more information, please see http://www.exeterpound.org.uk/

Notes for Editors:

(1) Link to photo’s of the event - https://www.dropbox.com/sh/vx9939tec044fya/AAAHvEz6hVHhbagIMCRv91fLa?dl=0

(2) The Exeter Pound – How it Works

The Exeter Pound would be available in paper form purchased one for one with sterling from service points in the city, or purchased online and paid into your Exeter pound account, or if your employer is a member of the scheme some Exeter Pounds could form part of your wages. The Exeter Pound would be backed 100% by sterling in the project’s bank account. It can be spent at any of the participating local businesses, as paper money, pay by text, or by online payment.

(3) £1 spent in a local business creates £1.73 value for the local economy, but only 35p spent in a national supermarket chain 

[New Economics Foundation The Money Trial http://www.neweconomics.org/publications/entry/the-money-trail}

(4) To see how a local currency does work, some key facts from Bristol Pound can be found here

http://bristolpound.org/what