  We derive an exact version of the Schwinger Proper Time Renormalisation Group
flow equation from first principles from the complete path integral, without
using any perturbative expansion. We study the advantages of this flow equation
as compared to the canonical Exact Renormalisation Group flow equation, which
uses a regulator in momentum space. We use our flow equation to recover the
convexity of the effective scalar potential in the IR limit and apply it to the
study of false-vacuum decay.
