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My daughter Claudia opened the first window of her advent calendar this
morning and was disappointed to find that behind it was just a picture,
and not a chocolate.
Some of you may have felt as she did, when listening to the Chancellor
of the Exchequer’s ‘Autumn Statement’ to the House of Commons on
Tuesday.
This statement traditionally gives a forecast for the economy and for
the Government’s tax plans, and was given against the background of the
crisis in the eurozone and uncertainty at home. Sadly we do not have the
money as a country to spend our way out of difficult economic times, and
when you look across Europe at those who have tried and failed the
downsides are all too clear. If Britain had carried on borrowing at the
rate we were 18months ago we would be bust. If our borrowing costs as a
country were similar to those of Italy or Spain, the typical family
mortgage payments could be an extra £5,000 a year. That’s one reason why
it’s worth sticking with plan A.
People have asked how much longer this will go on. The honest answer is
that the next six months are likely to remain difficult, but I believe
that in Kent we will do well next summer because of the Olympics and the
return to stronger levels of growth later in the year. We are also
fortunate locally that some of our bigger employers like Saga,
Eurotunnel and EDF have performed strongly, other companies like Church
and Dwight are committed to invest in the area, and that the
regeneration of the creative quarter and old town in Folkestone is being
supported by private investment from the Roger De Haan charitable trust.
The Regional Growth Fund has made £40million available to support new
businesses and the expansion of existing firms in East Kent, with the
top priority creating new jobs.
There was some good news from George Osborne, particularly the decision
not to introduce a three pence increase in fuel duty in January and to
provide extra assistance to reduce the planned increases in rail fairs.
These were measures that I and my fellow East Kent MPs had called for,
and I know that many of you wanted as well.
The Chancellor also announced the extension of support for working
families by investing a further £600 million in pre school childcare.
This will mean that about 250,000 two year olds across the country will
benefit from 15 hours a week of free childcare, something which is only
currently available to three and four year olds. This funding will be
administered by the local councils and will be targeted to help those in
the greatest need. This should be welcome news for working families for
whom the cost of childcare is one of their biggest household expenses.
But, with December here the countdown to Christmas has started and
across the district the lights are up and seasonal festivities underway.
Last Sunday I joined the villagers on the green in Elham to watch the
Christmas tree lights being turned on, and earlier in the day we enjoyed
the Christmas market at the Five Bells pub in Brabourne.
Hawkinge Gazette and Channel Coast
News 2011©
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