Can LETSystems be used in conjunction with self-build projects?
There are several projects under consideration at present. The Homes for Change project in Manchester, at present approaching construction, has proposed that the housing co-op accept 10 per cent of rents in Manchester LETS currency. This is contingent on the ability of the co-op to spend their local money on support services, such as office work and maintenance. As for the future, John Winkworth writes: As a self-builder, in every sense of the nail, I have to say that LETS is the most exciting tool in the bag so far. The biggest drawback for me, after all the excitement, the sheer hard work and endless fun, is having to pay in the conventional way for the house that we built with our own hands. I mean, of course, by way of the ‘mort-gage’ over a long, long time. Her Majesty’s Inspector of Taxes tells us that local money is just as real as the pound sterling. This means that a group of self-builders looking for funding should be able to pledge their time to match funds in a wide variety
