Tag Archives: Exeter City Council

A four and a half pound note?

Exeter leads the way in unconventional money.

450 years ago the Exeter Ship Canal – the first canal in England with locks – was opened.  Built to replace the unnavigable River Exe – which had been blocked by successive Earls of Devon to force goods from the sea to unload at Topsham and reach Exeter by land and so pay their exorbitant tolls – it predated the canal mania by over 200 years.  A grand scheme to link Exeter to the Bristol Channel via a canal passing near Tiverton and on to Bridgwater never materialised in full, though a Tiverton branch survives today.

So without musing too long on what might have been, the opening of the Exeter Ship Canal in 1566 remains an important moment in the city’s history [1].  And what better way to commemorate that anniversary than by an unusual embellishment to a scheme intended to benefit the local economy.

The Exeter Pound has been legal tender in the city since September 2015 [2].  Like other complementary or community currency schemes, it aims to ensure more of the wealth generated by local trade remains local, so boosting independent businesses and enhancing the range of traders available to the local community.

Yesterday (30 July), a new note was unveiled to join the £E1, £E5, £E10 and £E20 notes already in circulation.  Unusually, its value is £E4.50p.  The denomination was selected to mark the 450th anniversary of the opening of the canal, and the design of the note, shown below, reflects this.

450 note

A large-size mock-up of the note was brought up the canal to the city by boat and presented by an awesomely well-dressed replica of a Tudor merchant – in reality a director of the Exeter Pound Community Interest Company – to the city’s Lord Mayor.  The presentation was apt, because Exeter City Council provided resources to help get the scheme off the ground.

presentation

All a bit of fun, but with a serious purpose.  According to NEF [3] small shops are closing at a rate of 2,000 a year, and small and medium-sized businesses employ 58% of the private sector workforce.  Community currencies can combat this: for every £1 spent they return significantly more than £1 to the local economy.  This is the so-called multiplier effects which means the local pound is spent repeatedly in the local economy.  By contrast, spending your £1 in a national chain shop means that much less than £1 remains local.  That’s why the chains are not allowed to join the Exeter Pound scheme, and only local, independent businesses can trade in it.

There are 163 of them in Exeter– and well worth your support.  These businesses exist to serve the local community, and are the antithesis of the self-serving and greedy culture which has been so visible in the downfall of BHS.  They are an essential part of rediscovering business decency and community-oriented values, not just here in Exeter, but everywhere where a community currency is taking off [4]. If  nations can be bound together by national currencies (ie not the Euro) so can communities by their local pounds.

 

NOTES:

[1]  The Exeter Ship Canal’s future is by no means secure. A support group, the Friends of the Exeter Ship Canal – friendsofexetershipcanal.co.uk/ – has recently been established to help ensure the canal’s future as an active waterway and as a beautiful part of Exeter’s heritage landscape.  They welcome new members.

[2]   The Exeter Pound website – exeterpound.org.uk – provides all the information you need about the scheme, including the traders who accept £Es and where you can change sterling for £Es.

[3]  The New Economics Foundation (NEF) website has a wealth of information about the benefits of community currencies – see http://www.neweconomics.org/issues/entry/community-currencies

[4]  As ever, the south-west is well-represented with community currencies.  Schemes are operating or in development in Bristol, Cornwall, Plymouth, Totnes and Stroud.

Whose Vision is it anyway? Part 1

It’s a truism that politicians (and not only politicians) love making good news announcements.  Even when they have to announce bad news, it’s always presented as positively as the spin doctors can manage.  Announcements which are then followed up by nothing at all are not unheard of – after all, it’s the fact of announcing something that generates the media coverage, and then the circus moves on.

But what barely figures in the spin doctors’ handbook is the announcement which is then followed not so much by nothing as by a veil of secrecy.  And here in Devon, we have a fine example.

On 24 November 2014, three district councils – East Devon, Exeter City and Teignbridge – announced that there were setting up a partnership to be called Greater Exeter, Greater Devon [1].  The stated aim is “to drive forward economic growth” through “joined-up decision making on planning, housing, resources and infrastructure”.  A Greater Exeter Visioning Board would meet every month “to define work priorities”.  The Board’s membership would be the leaders, chief executives and economic development lead councillors of each of the councils.

Leaving aside the question of whether economic growth is the right objective, this seems a potentially useful measure.  The three councils cover adjacent areas and face transport and land use pressures, particularly in Exeter and its surroundings.

In the course of keeping up to date with local initiatives I recently trawled the councils’ websites for news of the monthly meetings of the Visioning Board.  Nothing at all.  So, focussing on Exeter City Council, I looked for minutes of meetings that approved the setting up of the Board and received reports from it.  Nothing at all.

Next step, ask the council.  After the usual 20 days had elapsed, an Exeter City Council officer sent me a reply confirming the Board’s membership and setting out the dates each month on which it had met since its inception .  However, the reply stated that the minutes of the Board’s meetings were not available to the public, though no reason for this was given.

So, here we are.  A local authority body, promoted as a driver for economic growth and coordinating policies and planning on key issues, is announced with much fanfare and then vanishes into a cloak of secrecy.

Open government, indeed.  I’ve asked the City Council a series of questions about the Board’s authority, functions and accountability.  Watch this space for their response.

The second part of this post is at http://www.agreeninexeter.com/2016/08/05/whose-vision-is-it-anyway-part-2/

 

NOTES

[1]  The East Devon announcement is at http://eastdevon.gov.uk/news/2014/11/driving-forward-economic-growth/    The other councils issued virtually identical statements, though it no longer appears on Exeter City Council’s website.