[3], The initiative was part of the Transition Towns concept, of which Totnes was a pioneer. VideoThe policeman in a MAGA hat. Its latest set of notes come … The first town in England to have its own currency has scrapped it - saying it was killed off by a cashless economy. Additionally, Hopkins also wrote that the movement does have an understanding of global economics and is critical of its systemic problems such as being "growth-based". Order a zero miles pint at the Totnes Brewing Company The Totnes pound. What’s the real story? Video. The Steering Group said the project "attracted interest from all over the world", including from the Bank of England, which had "recently purchased a set of numbered Totnes Pound notes for posterity". The BBC is not responsible for the content of external sites. Things to do in Totnes. They set up a system in which … The notes were first printed at a local printing plant using 75% recycled paper. 4th July 2020: Payments for business rates, council tax, energy bills etc will no longer be available. Rome2rio makes travelling from Totnes (Station) to Dartmouth easy. The Telegraph in 2018 wrote, "This place has earned a reputation for a level of eccentricity beyond the usual cream tea and antiques shop fare that characterises a day trip in this part of the world." Its objective is to encourage people to spend their money with local, independent businesses in Bristol and the former County of Avon. Totnes is a quaint and interesting little town,with many things going on to learn about-attractive town with lovely walks along the river both directions and not far away lovely coast,beaches and the Moors,the higher reaches of the river Dart to explore.plenty of locally grown and made delicious food-interesting shops,local arts and crafts,and any amount of therapies available. .css-14iz86j-BoldText{font-weight:bold;}A town which started printing its own money more than a decade ago has ended the project blaming the "cashless economy" for its decline. The BBC is not responsible for the content of external sites. You can understand how things work in the motor by imagining the following scenario. An electromagnet is the basis of an electric motor. © 2021 BBC. The Totnes Pound also appeared in the CGSE Geography syllabus, meaning many young people have grown up with Transition and the Totnes Pound as part of their education, something that gives me a lot of satisfaction. What’s the real story? Anyone can get involved. .css-1hlxxic-PromoLink:link{color:inherit;}.css-1hlxxic-PromoLink:visited{color:#696969;}.css-1hlxxic-PromoLink:link,.css-1hlxxic-PromoLink:visited{-webkit-text-decoration:none;text-decoration:none;}.css-1hlxxic-PromoLink:link:hover,.css-1hlxxic-PromoLink:visited:hover,.css-1hlxxic-PromoLink:link:focus,.css-1hlxxic-PromoLink:visited:focus{color:#B80000;-webkit-text-decoration:underline;text-decoration:underline;}.css-1hlxxic-PromoLink:link::after,.css-1hlxxic-PromoLink:visited::after{content:'';position:absolute;top:0;right:0;bottom:0;left:0;z-index:2;}Town poised for its own currency, Wife shares heartbreak over Covid death of husband, Exmouth's 'Mr Snuggles', Tell us about your doorstep heroes that have gone above and beyond during the pandemic, China Fleet Country Club to become Covid vaccination centre, Parts of Devon suffer some of highest Covid case rate spikes in the country, The positive vibe from volunteering is truly uplifting Marc Jobson, Budleigh Hub manager, Northam murder suspect remanded in custody Court reporter, Information about BBC links to other news sites, Putin critic Alexei Navalny to be kept in custody. You remember that? Curious about the details, we learn it works more like a voucher-scheme than official money, but still, it keeps money … we had adecade of Austerity. The Totnes pound (t£) was a complementary local currency,[1] intended to support the local economy of Totnes, a town in Devon, England. The Bristol Pound (£B) is a form of local, complementary, and/or community currency launched in Bristol, UK on 19 September 2012. I mentioned already its own Totnes pound currency and the origins of Vire Island. The Totnes Pound was re-launched in June 2014 in denominations of t£1, t£5, t£10 and t£21. Totnes Pound - UK – The Totnes Pound first appeared in the small town of Totnes in southwestern England in 2007. Great local artists produce an astonishing array of high quality work in a range of media. Say that you created a simple electromagnet by wrapping 100 loops of wire around a nail and connecting it to a battery. Organisers Transition Town Totnes said "an increasingly cashless economy" had contributed to the currency's decline. A Totnes Pound was equal to one pound sterling and was backed by sterling held in a bank account. According to the Transition Town Totnes website, this meant that Totnes was "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".[4]. Launched in 2012, the Bristol Pound is the United Kingdom's first city-wide local currency. (See How Electromagnets Work for complete details.) The policeman in a MAGA hat. [2] The group argued 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". Is it worth anything or do we just throw it away?” How on earth did a Totnes Pound find itself in Cumbria, and why would someone think to put it in the church collection box? providing food to over 50 families • over 70 businesses now accept the Totnes Pound • organised over 140 public events • more than 1,000 students at King Edward VI Community College have now participated in our ‘Transition Tales’ programme • over 75% of people in Totnes and Dartington are aware of TTT’s work • more than 600 No new Bristol Pound accounts will be opened on the old digital platform. The city of Exeter also started a similar scheme in 2015 which stopped last year. .css-1xgx53b-Link{font-family:ReithSans,Helvetica,Arial,freesans,sans-serif;font-weight:700;-webkit-text-decoration:none;text-decoration:none;color:#FFFFFF;}.css-1xgx53b-Link:hover,.css-1xgx53b-Link:focus{-webkit-text-decoration:underline;text-decoration:underline;}Read about our approach to external linking. Their most famous innovation is the Totnes Pound, a home-grown currency that is accepted by more than 70 local businesses. Totnes is reputed to be the most eccentric town in Britain. [9], "The town already has its own currency, the Totnes pound" in, List of community currencies in the United Kingdom, https://www.independent.co.uk/news/uk/this-britain/they-dont-just-shop-local-in-totnes--they-have-their-very-own-currency-818586.html, "Totnes pound: Currency killed by 'cashless economy, "Banknotes, local currencies and central bank objectives", https://en.wikipedia.org/w/index.php?title=Totnes_pound&oldid=997355153, Articles with dead external links from July 2018, Articles with permanently dead external links, Creative Commons Attribution-ShareAlike License, 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, This page was last edited on 31 December 2020, at 03:22. Shoppers will be able to spend or redeem the pounds up until 30 June. The Totnes Pound was introduced in … The Totnes Pound also inspired people to take our basic idea and give it … Rome2rio is a door-to-door travel information and booking engine, helping you get to and from any location in the world. When the banks gambled all our money, lost it, we gave it back to them again, and to pay for it. Some transition towns have been involved in launching local currencies including the Totnes pound, the Lewes pound, the Stroud pound and the Brixton pound. The Totnes pound was pioneered by a group of local environmentalists led by Rob Hopkins and Naresh Giangrande. This currency is as valuable as the pound sterling and is accepted by the participating stores in town. The Totnes pound is just one example of the kind of outside the box thinking that has kept this local community resilient in the face of austerity. .css-1snjdh1-IconContainer{display:none;height:0.875em;width:0.875em;vertical-align:-0.0625em;margin-right:0.25em;}The policeman in a MAGA hat. The final designs featured author Mary Wesley, 'father of the computer' Charles Babbage, musician Ben Howard and social activist and philanthropist Dorothy Elmhirst. What’s the real story? It was in circulation from March 2007 to June 2019, when it was discontinued due partly to an increasingly cashless economy. Totnes Pound. "However, if we measure the project's success in terms of the degree to which it provoked reflection on the importance of the local economy, then we have to say the Totnes Pound has been a real success.". 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