The Speech by Chair of the Council, Councillor Sarah Frances Bevan at the launch of Bath Olivers currency, Monday 21st March, 12.20pm, Chapel Arts Centre, Lower Borough Walls, Bath

Good afternoon everyone and thank you very much for inviting me to the launch of the Bath Oliver today.

We are in illustrious company! Not only nationally with other towns in the United Kingdom - Totnes, Brixton, Lewes and Stroud also have their own local currency, but also internationally - Uruguay and Kenya have both established their own local currency too.

From the trade tokens of the 17th and 18th centuries to the community cash of the 21st century, the transition town movement builds on the past but has its sights set very firmly on the future.

That future as we all know is threatened by dwindling fossil fuels, shaky economies and an unhealthy dependence on industrialised methods of producing our food.

Here in Bath, true to the objectives of the transition ethos, we are actively doing what we can to tackle those threats by literally buying in to our local economy, buying into our local food security and buying into our local business community.

As Ben Brangwyn, the founder of the Totnes Transition network said: ‘That’s one of the secrets of transition: anybody who has a passion can find a place’.

On behalf of Bath and North East Somerset council, I congratulate Jay Risbridger and his team on their passion for this place, on their steadfast belief in the transition ideals, and on their determination to create a resilient, vibrant local community through the creation for our City  of its own, aptly named local currency, the Bath Oliver.

I am honoured to declare that the Bath Oliver is now in use as an officially valid, local currency.