More on KentOnline
Home Kent Business County news Article
The boss of the county’s inward investment agency is calling on Chancellor Rachel Reeves to unlock Kent’s potential by giving the green light to the Lower Thames Crossing, widening the M2 and get Eurostar services back.
The Chancellor is due to deliver the first Budget of the new Labour administration at around 12.30pm today - one of the most eagerly anticipated for years.
But while the mood music suggests a tightening of the public purse and an increase in financial strain for employers in the county, Locate in Kent chief executive Nick Fenton is calling on her to put the county on the road to prosperity and economic growth.
In an impassioned plea, he said: “The government’s decision to defer its ruling on the Lower Thames Crossing planning application to May 2025 was based on the need to await the outcome of the spending review that will be revealed later today.
“With expected changes to debt rules to free up billions for infrastructure improvements we look forward to a commitment to projects here in Kent and Medway, including progress towards road widening along the M2, incentives for improved domestic and international rail services and, above all else, funding of the Lower Thames Crossing itself.”
Eurostar has not operated stopping services at either Ebbsfleet or Ashford international stations since the pandemic in 2020 - despite repeated calls from local business leaders and politicians to do so. It says there will be no services until at least 2026.
Meanwhile, a decision on the £9 billion Lower Thames Crossing - expected earlier this month - was kicked into next year. That raised fears as to whether it could fall victim to the spending review - although potentially encouraged by the Chanellor’s changes to debt rules.
The Locate in Kent CEO added: “From life sciences to green technology, Kent and Medway is leading the way in areas vital to delivering future UK growth. The government needs to do all it can to fully unlock that potential through support for businesses and measures to attract investment, building on the innovation already taking place and delivering for the long-term in support of the UK economy.”
The agency says Kent and Medway has “outperformed” the UK economy over the past year, while it add the publication of the Kent Property Market Report next week “is expected to confirm a positive outlook for key sectors, including strong performance for commercial development focused on industrial use and distribution”.
But it says the issue with Eurostar and the delay to the crossing decision “has raised concerns Kent’s unique contribution to UK plc is not being fully recognised.”
There will be full reaction to the contents of the Budget on KentOnline later today.