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Banking on our city's innovation
A LOCAL bank that invests local money in local businesses - now there's a novelty. Not entirely. The Sheffield Banking Company flourished from 1831 to 1919 and even issued its own bank notes until 1905, before becoming part of the Royal Bank of Scotland.
Now, Sheffield City Council leader Paul Scriven would like to take us back to the future by launching the 'Bank of Sheffield'. His laudable idea is to use council reserves to lever in further cash and lend it to local innovators and entrepreneurs - better by far than sticking it in Icelandic banks as some councils did to their cost before the financial crash.
There will be risks, but South Yorkshire Investment Fund already shows that home grown financial experts can be trusted to pick local winners that conventional banks shy away from.
If the plans stack up, let's hope that a national government of whatever hue will make time for the legislative changes needed to make the Bank of Sheffield possible.
Was it wise to turn down swim scheme?
AS the summer holidays approach, the fact that almost half of Sheffield's children cannot swim adequately becomes a major - and potentially dangerous - fact. Children are irresistibly drawn to water and we know the potential for tragedy grows during the long days when children's naturally inquisitive nature sends them off in search of new experiences.
The city council is to spend 250,000 over the next two years trying to address this problem, targeting two dozen schools from poorer neighbourhoods whose pupils are more likely to be unable to swim, compared to this from affluent suburbs.
This is a welcome scheme and one we hope will show big improvements in the ability of city children to swim.
The council had previously turned down a Government offer of free lessons for all children and pensioners. In light of the latest findings and with the prospect of a long hot summer before us, someone ought to be asking if that was a wise decision.
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Weather for Sheffield
Friday 10 February 2012
Today
Fog
Temperature: -6 C to 0 C
Wind Speed: 14 mph
Wind direction: South east
Tomorrow
Sunny spells
Temperature: -2 C to -1 C
Wind Speed: 9 mph
Wind direction: South west
