Thursday’s council committee saw the Kingston pound reach a new milestone as Cllr Liz Green took the opportunity to give her and the council administration’s backing to plans for the project.
Importantly this means that the council will be able to further promote the Kingston pound through its existing contacts with residents and local businesses.
The Kingston pound is being led by a group of local residents who have backgrounds in finance, accountancy and payment systems.
The project is based on a similar scheme in Bristol, the ‘Bristol pound’, and hopes to take what they’ve done there and improve on it for Kingston businesses and residents, keeping more of our money in the local economy.
Council Leader Cllr Liz Green said:
“The Kingston pound can be an exciting catalyst for our local economy, bringing local people together with local businesses like never before.
“It will help us all ensure that the pounds we spend go direct from our pockets to local goods and services, as well as supporting the local credit union and its great range of services.
“As leader of the council I will ensure we do everything we can to support this great initiative to help build a stronger local economy for our residents.
“We’re backing the Kingston pound.”