City's Local Currency Is Accepted for Paying Taxes

From being voted the UK's greenest city to an awesome wood recycling project, my old home town of Bristol, England, has a lot going for it. It's latest innovation is particularly worthy of note. The BBC reports that Bristol is launching its own local currency—which in itself is not all that unusual—but what marks this out is that the city council is backing it, and will even allow businesses to pay part of their taxes using the Bristol Pound:

Since the scheme is run by a bona fide financial institution, the Bristol Credit Union, traders can pay each other large amounts of money at the click of a button. Also unique is the ability to pay local business rates in local currency. The council leader, Councillor Barbara Janke, is fully behind the scheme.

She told me: "This is a chance to demonstrate the economic resilience of the city. We want to make it as easy as possible for people to use the Bristol Pound."

Head over to the BBC for more on the Bristol Pound.

City's Local Currency Is Accepted for Paying Taxes
Local currencies are nothing new, but one city is allowing its businesses to pay their taxes with local money.

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