East Lancashire town set to pioneer new currency

East Lancashire town set to pioneer new currency

East Lancashire town set to pioneer new currency

First published in News

AN East Lancashire town is set to pioneer its own currency in a bid to keep shoppers ‘local’.

Traders hope that the ‘Colne Quid’ will become the currency of choice in the Pendle town, aftering seeing the success of similar intiatives around the country.

With independent stores beginning to flourish - with the reopening of Shackleton Hall and redevelopment of Colne Arcade - shopkeepers want to ensure the money stays within the local economy.

Their inspiration has been the Totnes Pound, which has spread like wildfire across the Devon town, and a committee has been formed to promote the new tender.

The grand launch for the Colne Quid has been pencilled in for August 9, near the town’s market, with 25 businesses already signed up.

The organising committee are now urging other shopkeepers to get involved.

One of the committee members, David Ormerod, of Outline Print Services, said: “It is still in its infancy and now we need to market it.

“It will be on sale at the launch and a Colne quid will be worth 90 pence, so buying items should be cheaper.

“We are also hoping that Colne shopkeepers will buy from other stores using the Colne Quid, so we can get it in circulation.”

And the denominations of the notes - which are set to feature Colne philanthropist and preserves magnate Sir William ‘Pickles’ Hartley - are being ironed out although similar schemes have adopted one pound, two pound, five pound and even twenty-one pound notes.

If a shopper wanted to buy a fiver’s worth of Colne Quids, it would cost them £4.50, or £9 for a ‘tenner’. The currency actually acts as a discount voucher, which can be redeemed at signed-up shops.

County and borough councillor Azhar Ali, Labour’s prospective parliamentary candidate for Pendle, said: “I think anything that encourages people to use independent shops rather than big supermarkets is very welcome.

“It will be interesting to see how it works. Anything that helps people’s businesses is brilliant and should be welcomed.”

Coun Joe Cooney, leader of Pendle Council, said: “It sounds a very interesting idea. We have a Colne Local scheme encouraging people to try and shop locally, and we also ran the Festive Fandago scheme recently where people had a card marked when they bought from local shops and could win prizes.

“Anything that gets people shopping locally and using independent shops is a good idea, it seems a really good idea and one that is definitely worth looking at and pursuing.”

Other East Lancashire towns have considered the introduction of a currency scheme - but were faced with practical problems.

Chris Gribben, manager of Burnley’s Charter Walk shopping centre, said: “We looked at having a local scheme like this in the town centre.

“But because we have got so many national retailers, they tend to have their own loyalty schemes and run their own promotions. Boots has the Advantage Card, Sainsbury’s and others have the Nectar card.

“What we have seen in Burnley is the introduction of a loyalty card by Standish Street traders, where there are independent shops, and clearly as a chamber of commerce and shopping centre we have been supportive of that.”

Chantelle Norton, who manages the Totnes scheme, which launched last May, has already seen the benefits it can bring.

She said: “It provides shoppers with an additional way to buy goods and services from businesses that are local to them, and at the same time feel confident that more of the money they pay will recirculate locally, thus supporting local jobs.”

Comments (13)

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6:33am Sat 19 Jul 14

AnimalReid says...

This is a great idea. Anything that stops those beaurocrats in Europe gets my vote. Before you know it we'll be all part of a superstate with our minds controlled by a computer. A bit like that book that that author with haircut wrote - 1984 or was it 1948 - something like that anyway. The one where all the animals take over the farm and the farmer gets eaten.
This is a great idea. Anything that stops those beaurocrats in Europe gets my vote. Before you know it we'll be all part of a superstate with our minds controlled by a computer. A bit like that book that that author with haircut wrote - 1984 or was it 1948 - something like that anyway. The one where all the animals take over the farm and the farmer gets eaten. AnimalReid
  • Score: 5

6:44am Sat 19 Jul 14

shytalk says...

In Clitheroe we have our own currency already. We call it beer tokens
In Clitheroe we have our own currency already. We call it beer tokens shytalk
  • Score: 14

7:58am Sat 19 Jul 14

2 for 5p ridesagain says...

Well I've heard some disgraceful, stupid and air brained ideas in my time but this one really does Take the cake.
Talk about self protectionism you won't be able to spend this worthless toy cash at any proper outlets ie Asda Tesco. It also gives locals a discount but not to outsiders. Visitors will probably have to pay more to make up the saving given to the locals.
I urge people to boycott Colne for your shopping I will.
Well I've heard some disgraceful, stupid and air brained ideas in my time but this one really does Take the cake. Talk about self protectionism you won't be able to spend this worthless toy cash at any proper outlets ie Asda Tesco. It also gives locals a discount but not to outsiders. Visitors will probably have to pay more to make up the saving given to the locals. I urge people to boycott Colne for your shopping I will. 2 for 5p ridesagain
  • Score: -13

8:20am Sat 19 Jul 14

Dave from Colne says...

2 for 5p ridesagain wrote:
Well I've heard some disgraceful, stupid and air brained ideas in my time but this one really does Take the cake.
Talk about self protectionism you won't be able to spend this worthless toy cash at any proper outlets ie Asda Tesco. It also gives locals a discount but not to outsiders. Visitors will probably have to pay more to make up the saving given to the locals.
I urge people to boycott Colne for your shopping I will.
Why shouldn't locals be encouraged to shop in their own town? It's worked in other places so why not here? By the way it's take the biscuit not take the cake. Sounds like grumpy got out of the wrong side of the bed this morning!
[quote][p][bold]2 for 5p ridesagain[/bold] wrote: Well I've heard some disgraceful, stupid and air brained ideas in my time but this one really does Take the cake. Talk about self protectionism you won't be able to spend this worthless toy cash at any proper outlets ie Asda Tesco. It also gives locals a discount but not to outsiders. Visitors will probably have to pay more to make up the saving given to the locals. I urge people to boycott Colne for your shopping I will.[/p][/quote]Why shouldn't locals be encouraged to shop in their own town? It's worked in other places so why not here? By the way it's take the biscuit not take the cake. Sounds like grumpy got out of the wrong side of the bed this morning! Dave from Colne
  • Score: 15

8:29am Sat 19 Jul 14

Keng38 says...

Can't wait.
Currently dragging colour photocopier out from garage in readiness.
Can't wait. Currently dragging colour photocopier out from garage in readiness. Keng38
  • Score: 7

9:06am Sat 19 Jul 14

Kevin, Colne says...

I wish this scheme well, although I’m unsure where it might be headed.

Shopping locally in Colne is a good experience. You meet people you know and have a natter, sometimes you’ll see some of the local councillors – not often, but sometimes – the independent bakeries, butchers etc. provide fine produce that is far, far superior, in my view, to similar products at the national supermarkets. Unlike the supermarkets that seek to achieve impulse sales through sophisticated techniques, shopping locally provides a better way of shopping on the basis of real need and thus avoiding the manipulative messaging from distantly-owned, profit-maximizing joint-stock corporations.

By definition a local currency is not the same as universal currency, but beneath this I think lays a deeper issue. We have moved towards systems of currency, which is not quite the same as money.

We’re living in an age of soft currency where the British Pound, along with other currencies, is no longer convertible on demand by the issuer into money. This leaves the ordinary citizen completely unprotected from the effects of currency debasement, and more to the point accelerates processes that are driving inequality by contributing, for example, and in no small measure to rising asset prices and falling purchasing power of the currency unit overall.

In fact when I think about it, one finds it hard to imagine political parties pursuing worse policies for its citizens than globalization coupled with fiat currency, but alas this is precisely what the Conservative, Labour and Liberal-Democrat parties at national level have done. Since the start of the current economic and financial crisis they have added to their sins by supporting a policy of financial repression, and this too has seen an enormous re-distribution of wealth.

Some commentators, notable outside the mainstream, claim that we’re moving inexorably into an era of neo-feudalism in which citizens are being reduced to tax donkeys and indebted servitude. I find this an interesting and terrifying thought and while I am not surprised that national newspapers fail to discuss the idea, I would expect the BBC, as a public service broadcaster, to give some air-time to heterodox economic and political-economic views.
I wish this scheme well, although I’m unsure where it might be headed. Shopping locally in Colne is a good experience. You meet people you know and have a natter, sometimes you’ll see some of the local councillors – not often, but sometimes – the independent bakeries, butchers etc. provide fine produce that is far, far superior, in my view, to similar products at the national supermarkets. Unlike the supermarkets that seek to achieve impulse sales through sophisticated techniques, shopping locally provides a better way of shopping on the basis of real need and thus avoiding the manipulative messaging from distantly-owned, profit-maximizing joint-stock corporations. By definition a local currency is not the same as universal currency, but beneath this I think lays a deeper issue. We have moved towards systems of currency, which is not quite the same as money. We’re living in an age of soft currency where the British Pound, along with other currencies, is no longer convertible on demand by the issuer into money. This leaves the ordinary citizen completely unprotected from the effects of currency debasement, and more to the point accelerates processes that are driving inequality by contributing, for example, and in no small measure to rising asset prices and falling purchasing power of the currency unit overall. In fact when I think about it, one finds it hard to imagine political parties pursuing worse policies for its citizens than globalization coupled with fiat currency, but alas this is precisely what the Conservative, Labour and Liberal-Democrat parties at national level have done. Since the start of the current economic and financial crisis they have added to their sins by supporting a policy of financial repression, and this too has seen an enormous re-distribution of wealth. Some commentators, notable outside the mainstream, claim that we’re moving inexorably into an era of neo-feudalism in which citizens are being reduced to tax donkeys and indebted servitude. I find this an interesting and terrifying thought and while I am not surprised that national newspapers fail to discuss the idea, I would expect the BBC, as a public service broadcaster, to give some air-time to heterodox economic and political-economic views. Kevin, Colne
  • Score: 6

1:43pm Sat 19 Jul 14

The Seagull has landed says...

2 for 5p ridesagain wrote:
Well I've heard some disgraceful, stupid and air brained ideas in my time but this one really does Take the cake.
Talk about self protectionism you won't be able to spend this worthless toy cash at any proper outlets ie Asda Tesco. It also gives locals a discount but not to outsiders. Visitors will probably have to pay more to make up the saving given to the locals.
I urge people to boycott Colne for your shopping I will.
"Disgraceful, stupid and air brained", describes YOU down to a tee.
[quote][p][bold]2 for 5p ridesagain[/bold] wrote: Well I've heard some disgraceful, stupid and air brained ideas in my time but this one really does Take the cake. Talk about self protectionism you won't be able to spend this worthless toy cash at any proper outlets ie Asda Tesco. It also gives locals a discount but not to outsiders. Visitors will probably have to pay more to make up the saving given to the locals. I urge people to boycott Colne for your shopping I will.[/p][/quote]"Disgraceful, stupid and air brained", describes YOU down to a tee. The Seagull has landed
  • Score: 5

2:03pm Sat 19 Jul 14

HelmshoreMan2010 says...

Genuine question but does anybody here still carry cash? I can't think of the last time I carried money other than on a Monday morning for my bus pass because the buses are stuck in the past.

As it's a genuine question please vote UP if like me you don't carry cash or vote DOWN if you do still pay for items with the queens face.

Sadly there's no prize for voting.
Genuine question but does anybody here still carry cash? I can't think of the last time I carried money other than on a Monday morning for my bus pass because the buses are stuck in the past. As it's a genuine question please vote UP if like me you don't carry cash or vote DOWN if you do still pay for items with the queens face. Sadly there's no prize for voting. HelmshoreMan2010
  • Score: -9

2:24pm Sat 19 Jul 14

ikap22 says...

HelmshoreMan2010 wrote:
Genuine question but does anybody here still carry cash? I can't think of the last time I carried money other than on a Monday morning for my bus pass because the buses are stuck in the past.

As it's a genuine question please vote UP if like me you don't carry cash or vote DOWN if you do still pay for items with the queens face.

Sadly there's no prize for voting.
Did you forget to take your medication?
[quote][p][bold]HelmshoreMan2010[/bold] wrote: Genuine question but does anybody here still carry cash? I can't think of the last time I carried money other than on a Monday morning for my bus pass because the buses are stuck in the past. As it's a genuine question please vote UP if like me you don't carry cash or vote DOWN if you do still pay for items with the queens face. Sadly there's no prize for voting.[/p][/quote]Did you forget to take your medication? ikap22
  • Score: 2

2:57pm Sat 19 Jul 14

A Darener says...

AnimalReid wrote:
This is a great idea. Anything that stops those beaurocrats in Europe gets my vote. Before you know it we'll be all part of a superstate with our minds controlled by a computer. A bit like that book that that author with haircut wrote - 1984 or was it 1948 - something like that anyway. The one where all the animals take over the farm and the farmer gets eaten.
Actually that is two books

1.....Animal Farm.

2.....1984.

Both written by George Orwell.
[quote][p][bold]AnimalReid[/bold] wrote: This is a great idea. Anything that stops those beaurocrats in Europe gets my vote. Before you know it we'll be all part of a superstate with our minds controlled by a computer. A bit like that book that that author with haircut wrote - 1984 or was it 1948 - something like that anyway. The one where all the animals take over the farm and the farmer gets eaten.[/p][/quote]Actually that is two books 1.....Animal Farm. 2.....1984. Both written by George Orwell. A Darener
  • Score: 5

5:53pm Sat 19 Jul 14

greenscreener says...

A Darener wrote:
AnimalReid wrote:
This is a great idea. Anything that stops those beaurocrats in Europe gets my vote. Before you know it we'll be all part of a superstate with our minds controlled by a computer. A bit like that book that that author with haircut wrote - 1984 or was it 1948 - something like that anyway. The one where all the animals take over the farm and the farmer gets eaten.
Actually that is two books

1.....Animal Farm.

2.....1984.

Both written by George Orwell.
And George Orwell did indeed have a haircut.
[quote][p][bold]A Darener[/bold] wrote: [quote][p][bold]AnimalReid[/bold] wrote: This is a great idea. Anything that stops those beaurocrats in Europe gets my vote. Before you know it we'll be all part of a superstate with our minds controlled by a computer. A bit like that book that that author with haircut wrote - 1984 or was it 1948 - something like that anyway. The one where all the animals take over the farm and the farmer gets eaten.[/p][/quote]Actually that is two books 1.....Animal Farm. 2.....1984. Both written by George Orwell.[/p][/quote]And George Orwell did indeed have a haircut. greenscreener
  • Score: 5

10:18pm Sat 19 Jul 14

doggydog says...

plenty cheap beer then!
plenty cheap beer then! doggydog
  • Score: 1

7:59am Sun 20 Jul 14

2 for 5p ridesagain says...

Keng38 wrote:
Can't wait.
Currently dragging colour photocopier out from garage in readiness.
Good idea. I might do the same. :-)
[quote][p][bold]Keng38[/bold] wrote: Can't wait. Currently dragging colour photocopier out from garage in readiness.[/p][/quote]Good idea. I might do the same. :-) 2 for 5p ridesagain
  • Score: 0

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