A number of recommendations to tackle poverty in Lewisham have been approved  by councillors, including proposals for a new Lewisham Pound.

The recommendations, which now form official council policy and will start to come into effect in the coming months, saw a number of council initiatives proposed to encourage growth and employment in the borough.

A report looking into ways of tackling poverty in Lewisham said: “The council should encourage business growth in the borough, particularly in growth sectors of the London economy.

“Officers intend to undertake a scoping exercise regarding the feasibility and possible impact of a complementary currency for Lewisham.'”

Other initiatives proposed included the ‘Lewisham Deal’ – a scheme between the council and partners to drive local growth through investment, with a focus on apprenticeships and job opportunities for local people.

Organisations involved in the deal include Lewisham Council, Goldsmiths, University of London, Phoenix Community Housing, Lewisham Homes, Lewisham and Greenwich NHS Trust and Lewisham Southwark College.

On the subject of the deal, the report said: “The key recommendation was for Lewisham’s ‘anchor’ public institutions to come together to promote inclusive growth and make a series of joint commitments under a ‘Lewisham Deal’”

This includes maximising the local spend of the apprenticeship levy for up-skilling and in-work progression, commitment to the London Living Wage, flexible working and opportunities for job progression for employees.

“Since last year Lewisham has been participating in the Local Government Authority’s Leading Places programme that supports councils, universities and other local institutions to work together in meeting the key challenges facing their local residents and businesses,” the report explained.

Nearby Brixton has had a local currency, called the Brixton Pound, since 2009.

The David Bowie-emblazoned currency was designed by local activists to support small businesses and traders.

The Brixton Pound was launched as a paper-based currency, before introducing an electronic pay-by-text system in 2011.

Close to 250 businesses currently accept paper and around 200 have pay-by-text accounts, according to the Brixton Pound website.