Chancellor says Kent investment is "vote of confidence" in economy

Rachel Reeves was visiting the Haven Holiday Park in All Hallows.   Local Democracy Reporter Ollie Leader has the story.

Transcript

00:00School's out but no sunshine for the Chancellor on a visit to the Hoo

00:05Peninsula. But even a typical British summer's day couldn't stop the smiles or

00:11the high-vis coming out for one of the UK's growth sectors. Staycation spots

00:18like this one have seen a major boost to their investment which raises the

00:22question does the 14 million pounds invested right here in All Hallows

00:28signify a change in the UK economy or is that a getaway at Pipe Dream? To see

00:35businesses and international investors backing Britain with investments like

00:40this 143 million pound investment in Great British Holidays that is a real

00:46sign of confidence and it's great for Kent as well. Growth was part of the change

00:52Labour promised when they were first elected but after hikes to national

00:57insurance and minimum wage, is business in Kent feeling that change in their

01:04pockets?

01:04Well look, the NI hit was definitely a hit to our business, I don't think that would surprise anyone.

01:09However, we've been growing our business sufficiently quickly that we're staying

01:13ahead of the curve as it were and actually when consumers feel a little bit

01:17squeezed staycations tend to do quite well and that's what we're seeing at the

01:20moment. But for smaller businesses the last few months have been tough. Is pint-sized

01:27money's progress all they can expect from this government. I do recognise that things are often

01:36tough particularly for smaller businesses and that's why we exempted the smallest

01:40businesses from paying any national insurance contributions at all. So if you're a small

01:44business employing the equivalent of four people on the national living wage you will pay

01:49no national insurance whatsoever. Record numbers at Haven parks this year will be seen as a ray of sunshine but

01:59after a frosty reception to the last autumn budget a scoop of optimism might be what's needed to melt

02:08away business woes in the coming months. Oli leader in all hallows.