Rebellious town will print its own money to support the local economy

Lewes, the East Sussex market town renowned for its radicalism, is to start printing its own money in a bid to support local businesses and stem the flow of wealth leaving the area.

The printing contract has been awarded to Totnes-based firm Colour Works, which runs a five-colour Heidelberg SM 74 and already produces the Totnes Pound – a similar local currency launched in the Devonshire town last March.

The scheme is being launched at an event on 9 September and will initially be piloted for a six to 12 months, when its success will be reviewed.

So far, around 30 locally owned shops have signed up to receive the pound and the group behind the scheme is planning an initial print-run of about 10,000 notes.

Patrick Crawford, one of the members of the group, said negotiations are under way with paper suppliers: "We're very mindful of security issues and the longevity of the paper."

Circulated notes will carry security features such as watermarks, heat-marks and numbering.

The Lewes initiative is the brainchild of a group of local people, including businessmen and women, and is being supported by the Chamber of Commerce, town and district councils and various businesses.

Barclays Bank has also agreed to sign up to the scheme and accept the pound as legal tender.

The money will be distributed via various issuing points across the town. Participating shops and businesses will carry branded posters in their windows identifying their participation.

This is not the first time that Lewes has had its own currency – the Lewes Pound existed in the 1900s.