Kent business 'will be hit by slowdown'

Jo James, Kent Invicta Chamber of Commerce chief executive
Jo James, Kent Invicta Chamber of Commerce chief executive

by Joanna Earle

A business expert in Kent today echoed the Bank of England's warning of "choppy" times ahead.

The Bank's Governor Mervyn King gave his gloomy prediction for the British economy this morning.

He said inflation is likely to be higher than expected and growth will be lower.

Mr King added that households should prepare for slower growth than previously thought next year.

And he said inflation is expected to stay above the Bank's two per cent target until the end of next year - due to next January's VAT hike to 20 per cent.

In response, the Kent Invicta Chamber of Commerce said its going to be a tough time for businesses in the county.

Chief executive Jo James said: "The full impact of the government cut backs haven't been felt yet.

"Once the spending review happens in October, I think next year we are actually going to see the impact the cut backs will have on the business economy.

"There are no two ways about it - it will have a negative effect on businesses in the county."

Ms James also called for red tape which hinders business growth to be cut.

She added: "This is all happening on a national scale.

"We need to address what we need to do to support the growth sectors and start up businesses in our county.

"We are a very active business community so I think we are at a stage at the moment where if we all pull together and we will head into the right direction."

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