Bevan Foundation explores how to ‘plug the leaks’

This week the Bevan Foundation hosted a ‘plugging the leaks’ workshop with  stakeholders across valleys communities to better understand how money circulates and explore opportunities to retain money locally.

The workshop is part of a programme of work to understand the barriers and opportunities to the growth of the foundational economy in three communities in the south Wales valleys.

The workshop drew on the concept of the ‘leaky bucket’ devised by the New Economic Foundation as a tool to explore the local circulation of money; how it enters , how it ‘leaks out’ and practical ways to plug the leaks.

Project leader Lloyd Jones who led the workshop said “This was a great opportunity to explore with our partners  how the local economies of each place functions. It builds on work we have been doing with residents over the last few months on household spending. We’ve captured some really valuable insights into the way each place works and how different each of them are and we are grateful to everyone who took part”

The results of the workshop ,along with the Bevan Foundation’s recent household survey and a series of upcoming virtual group discussion sessions, will be brought together early next year to form final recommendations on opportunities and practical ways to make the most of the foundational economy.