 1.3.04
European grant funds Machynlleth community currency system introduced
by Elemental Earth.
As part of a growing initiative to promote local trade in Machynlleth,
Elemental Earth is proposing the introduction of an alternative local
economic system that could benefit the local community, consumers, businesses
and service providers in Machynlleth.
Elemental Earth has received money from the European Regional Development
Fund, via a SPIRIT grant, for research and education into the scheme as
a feasibility study.
"A community currency stays circulating in the community - it is easy
to get and will not leak out of the area in the same way the pound does.
Spending it keeps the pound in your pocket. Everyone likes money that
comes back to you when you spend it," according to a member of Comox Valley
community in Canada, which already uses a community currency system.
This month, Elemental Earth has been running workshops in Dyfi Valley
schools and for local groups, to teach children about the importance of
local trade in their community through the medium of games.
"We want to teach children about this subject in a playful way, encouraging
them to value their local community and giving them a basic understanding
of the flow of money and local resources," said Joyce Borgs, project co-ordinator.
When asked about the importance of shopping locally, one Machynlleth
Brownie said, "Shopping in your own town is good because you don't use
your car, which is bad for nature, and you get to see all your friends
too!"
Elemental Earth will be holding a presentation and interactive workshop
on the 6th and 7th April at 7.30pm to explore the opportunities a community
currency scheme could bring to local businesses.
They will demonstrate how businesses can actively work to keep money
and resources within the community, and encourage participants to explore
the various benefits the scheme could have for themselves and the town.
Ecodyfi and the Centre For Alternative Technology both expressed their
full support of the scheme.
Andy Rowland, manager of ecodyfi, explained why Ecodyfi was keen to be
involved: "A local currency scheme could prove to bring an important boost
to the local economy, by promoting shopping locally, for example, and
ideally for locally produced goods. We recognise that, to boost the economy
and to create and safeguard jobs, we need not only to spend more in the
local economy, but to keep this money circulating locally.
"The New Economics Foundation has estimated that every £1 spent in the
local economy can be worth £5 if it stays in the local economy.
"We'd like to see Elemental Earth's pilot scheme putting this theory
to the test."
For more information on this project please contact Joyce Borgs at Elemental
Earth on: 01654 - 700098. Or e-mail her at: joyce@elementalearth.fslife.co.uk
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