Lambeth and the Brixton Pound

Community Currencies in Action

Description of the Currency Demonstration• The Brixton Pound is a sterling-backed currency

matched 1:1 with GBP• It was started in 2009 by a group of volunteers who

were part of Transition Town Brixton, and who wanted to support trade with local businesses. In 2011 the Brixton Pound launched an e-currency, the first of its kind in the UK.

• Lambeth Council is working with the Brixton Pound to test the use of community currency as an incentive to increase resident involvement in co-op council service design and delivery.

Needs addressed by the Currency, why the model used was chosen?• Increased trade at local shops• Increased feeling of connection to local area

and local pride• Increased motivation to improve local area

Model chosen to accelerate local trade and keep more money in the local economy.

How the currency works• Usually, residents exchange GBP for Brixton £

that they can then spend at local shops• Businesses use B£ to buy goods/services from

each other, pay for some Council services, or exchange back to sterling.

• Currency is electronic and paper; e-currency most popular

• In our incentives trial, we rewarded some people participating in Good Gym’s coach running program with Brixton £s to see if they would be more motivated to increase their involvement

Shared learning from Partners of the CCIA Project

• We have worked with nef to learn about the legal status of community currencies in the UK

• We have all learned about the relationships our currencies have with local authorities and how this might inform our work – for example, we learned that changes in political position on a project are not uncommon