Westminster's millions are 'tenners in our pocket'

All of the hallmarks of spring are present in Ashford, from the fresh flowers to the lambs in the field, and this also means a financial forecast of the economy has taken place in Westminster.

Chancellor Rachel Reeves set out her plans for the UK economy on Wednesday in the House of Commons.

The Spring Statement warned the economy wouldn't grow as fast this year as previously hoped, to help this there was a boost in defence spending, but offset against further cuts in welfare spending.

The Federation of Small Businesses (FSB) hosted its Spring Statement watch-along for Kent businesses.

Tim Aker, who heads up Kent's FSB, said: "It might be spoken about in Westminster in the billions and millions, but those decisions make their way to high streets like Ashford in the tenners in our pocket, and that has a knock-on for how much we spend and how often."

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These concerns are echoed by Sian Murphy, who runs an events company to support women in business.

Watching the statement at the FSB event, she said: "Doom and gloom makes people question if now is the time to expand.

"If I was a micro-business now I'd say think hard about if you can afford to take a new staff member on."

Asked what more the chancellor could do to help give businesses confidence, Ms Murphy said: "We need less ping pong in parliament, a different financial message every six months means businesses can't plan for long term."

In Rochester, 25 miles (40km) north of Ashford, Orchard Employment Law run by Jemma Fairclough-Haynes warns Wednesday's Spring Statement will do little to stop those concerned about how many staff they have on their books.

She said local businesses had been contacting her firm since the autumn budget "asking how to lay off staff".

She added that "many businesses now want to look at how to do things differently, be that shorter hours to accommodate a rise in national insurance and minimum wage or only having freelance staff to work for them".

Michele Yianni-Attard runs an accountancy firm for small businesses in Kent, and said the Spring Statement was a "disaster" for small business owners who needed something to help with the rising bills.

She said small businesses made up "such a large part" of the local economy in Ashford.

"This doesn't give them a sense the treasury know their pain," she added.

Michai Macovei, bar manager of Valerie's Wine Bar in Ashford, was more hopeful for a boost in the economy.

He said what he heard from the chancellor was "very promising".

It was a struggle for small businesses to survive, he added, saying many "feel like we don't have any support".

"I hope from what I heard today from Rachel Reeves a big change is going to happen," he said. "Fingers crossed for good things."

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