LETS launch for Honiton to beat recession

PUBLISHED: 17:06 17 June 2009 | UPDATED: 23:43 15 June 2010

HONITON residents could soon be beating the recession with a Local Exchange Trading System (LETS).

HONITON residents could soon be beating the recession with a Local Exchange Trading System (LETS).A steering committee was set up at a meeting in the town last Friday.Held at the Royal British Legion, it attracted enough support for a launch to be considered.A grassroots initiative, LETS encourages people to offer goods and services for points, not pounds.It brings together people of all ages, skills and abilities - and allows them to trade without the need for money. In 1996, 40,000 people were involved in 450 LETS schemes, most of them established to reflect a model developed in Britain by LETSLINK UK.Interest in LETS waned in the following years, but is now on the increase.With the economy in reverse gear, many individuals and families are struggling to make ends meet - and a scheme that allows them to give and gain without hard cash could provide them with a boost.The aim in Honiton is to foster a community spirit for the people, by the people.Julie Faber is the membership secretary and she can be contacted on (01404) 46319.

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