'Bags of cash' to be spent by high-speed shoppers

High-speed train to London
High-speed train to London

by business editor Trevor Sturgess

Commuters attracted into the county by high-speed trains are set
to boost the economy by spending their "bags of cash" in local
towns.

Vince Lucas, commercial director of Southeastern Trains, said the new era of rail travel would bring more money to Kent, a county that now lagged behind the rest of the south east in economic terms.

He said commuters from Maidstone and Sevenoaks, for example,
injected an additional five per cent of income into the towns,
while Canterbury derived almost no financial benefit from commuters
because so few travelled to London from the city.

But that would change from December 13 with the launch of the
new services.

With Canterbury being just under an hour from London, people who
now commuted from North of London or even within London would
consider relocating.

"Commuters are like little traders who get sent out and bring
back bags of cash to the town to spend them," he told delegates at
the Canterbury4Business spring conference."There will be a rapid
change in the number of people who want to commute from
Canterbury."

He warned that an influx of commuters would put pressure on
Canterbury's housing stock, and could even create a shortage
of student accommodation because bedsits may be "converted back
into big houses."

He also urged Canterbury to find more business space to meet
demand from firms that want to move to the city because of the new
trains. If not, that economic driver "may just pass by."

Not every town will benefit from the new trains. Maidstone,
which years ago voted against being plugged into the high-speed
service, is set to lose its London Cannon Street service when all
services are switched to Victoria.

There will then be no journey times of less than an hour between
the County Town and London.

Local businesses have joined campaigners to fight the decision
but Southeastern says the service is little used.

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