Local currency says it is a "victim" of cuts and globalization
A local currency established to encourage shopping at local independent stores and large organisations centred on Exeter is to cease trading when they "suspend the scheme" on 30 September.
The Exeter Pound launched in 2015, initially signing up the Exeter Chiefs as a high profile supporter, with its 15 pound notes featuring star winger and England player Jack Nowell.
Its directors hoped to support local traders by developing currency that could only be used by accredited businesses in the city. Businesses were also encouraged to pay their staff in Exeter pounds, at least in part.
But on Monday, the company announced that trading in Exeter pounds will stop at the end of September. They say they're "another victim to funding cuts" and there's a "disregard to the important of smaller companies and traders in a world dominated by global corporations." However their "movement continues to group in new and exciting directions."
They say the decision to cease trading was made after difficult discussion.
Misconduct inquiry into suspended chief constable suspended
Good time for dolphins in Torbay
Devoncast - traffic, trees and Toby Buckland
Shoplifting and violent crime up in Devon and Cornwall
Riviera Airshow fit to fly
How Torbay Hospital bosses are tackling 'risks'
