It seems like Brixton will be getting a boost for its thriving little economy in the way of its own currency.
So why get your own currency? Brixton’s decision seems to be influenced by the success of the Totnes Pound and the Lewes Pound. The Lewes Pound no longer exists as it was only instituted for a short while during the worst of economic downturn but it seems to have worked.
The point of the Brixton pound is to give consumers in the area real value for money. It is hoped that the money will stay within the area instead of falling in to the hands of big chain stores, which spoil the diversity of Brixton’s town centre. Another aim is to create and strengthen loyalty ties and more of a community feel for those who choose to shop independently.
The currency is backed by the Lambeth Savings and Credit Union who provide low interest loans for the local community. They want to push for community banking which is non profit making and in the midst of global credit crisis, surely this is the moral alternative?
I can sit here and probably attempt to decipher some more important reasons behind the decision (maybe add in some juicy political ideas!) but my eyes have been drawn to what the majority of people are much more interested in concerning the Brixton pound. Which famous face should grace each note? My vote lies with Levi Roots. Nothing beats some reggae reggae sauce.
Currently Listening To: Black or White - Michael Jackson