Reading Timebank or the Local Exchange and Trading Scheme

Earlier this week Cabinet agreed to proceed with a Timebank in Reading – where you do something someone else, build up some time and get someone to do something to you using that time. I think that this could be positive, however I was alarmed to discover that the Council had not been in regular contact with the Local Exchange and Trading Scheme (LETS) on this as there is definite overlap. They are now talking but I think earlier dialogue would definitely have been helpful.

LETS works using an alternative currency – Readies for the Reading scheme – but works roughly along the same lines as a timebank. This scheme is already up and running in Reading though. I am a member and have found it useful for transport, small repairs etc. Following my recent house move I got some help assembling furniture.

I think this sort of scheme is great for building community and in these tough times where many are unemployed and cash is tight they are even more useful.

Reading LETS has a website if you want to find out more.