The
Totnes pound is a
complementary local currency intended to support the local economy of
Totnes, a town in Devon, England
.
The initiative is part of the Transition Towns concept, of which
Totnes is a pioneer. It is "a community in a process of
imagining and creating a future that addresses the twin challenges of
diminishing oil and gas supplies and climate change, and creates the
kind of community that we would all want to be part of".
The Totnes Pound was launched as an initiative of Transition Town
Totnes Economics and Livelihoods group in March 2007.The group argues
that "Economic localisation is considered to be a key aspect of
the transition process, and local currency systems provide the
opportunity to strengthen the local economy whilst preventing money
from leaking out"
The benefits of the Totnes Pound are:
To build resilience in the local
economy by keeping money circulating in the community and building
new relationships
To get people thinking and talking
about how they spend their money
To encourage more local trade and
thus reduce food and trade miles
- To encourage tourists to use
local businesses
A Totnes Pound is equal to one
pound sterling and is backed by sterling held in a bank account.
The paper Totnes Pounds are printed on plasticised paper and have
a number of security features.
