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News - 31 August 2008
Lewes currency to control economy
Brighton’s neighbouring town Lewes has taken the radical step of issuing its own currency in a bid to protect the local economy. Lewes is in many way a very old fashioned town with old fashioned traditions and ideals but it has also proven to be very forward thinking in some respects.
Lewes has always been a leader in the adoption of green practices and new eco technologies. As one of the first transition towns it has pioneered new concepts in recycling and energy conservation.
This latest move will promote local produce and support local businesses. Analysts have estimated that 80% of money spent in supermarkets leaves the local economy immediately. The new notes will stay and be spent over and over again in Lewes.
Some 30 businesses and the local branch of Barclays have signed up to accept the currency. Initially 10,000 notes will be issued and will become legal tender in September 2008. They will not however carry a picture of the Queen.
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