The Budget was short on surprise but its impact on Kent will be significant – we gauge the reaction from around Kent.
The much anticipated budget for the year 2021 was finally presented by the Chancellor of the Exchequer, Rishi Sunak, and it has been the talk of the town. As expected, the budget was short on any major surprises, but its impact on Kent cannot be understated. With the ongoing pandemic and its effects on the economy, the budget has been carefully crafted to support businesses and individuals in Kent during these challenging times. Let us delve deeper and gauge the reactions of people from around Kent to this budget.
Firstly, the budget has been welcomed by the business community in Kent. The extension of the furlough scheme until September has been a huge relief for businesses that have been struggling to stay afloat. This scheme has been a lifeline for many businesses and its extension will provide much-needed support to keep them going until the economy fully reopens. The new restart grants for businesses and the extension of business rates relief have also been well received. These measures will help businesses to recover and contribute to the economic growth of Kent.
Moreover, the budget has also focused on job creation and support for the unemployed. The government has announced a new scheme, “Restart”, which will provide funding to help people find jobs. This has been especially welcomed in Kent, where unemployment rates have been on the rise due to the pandemic. The new “Help to Grow” scheme for small businesses will also help in creating job opportunities and boosting the local economy. The increase in the National Living Wage will also provide a much-needed increase in income for many workers in Kent.
The investment in infrastructure projects is another positive takeaway from the budget. As we all know, Kent is a vital transport hub with its strategic location connecting London and the rest of the country. The government’s commitment to investing in the A2 and A26 road networks will improve connectivity and reduce travel times for commuters and businesses in Kent. The announcement of a new Freeport in Thames Estuary will also bring in new investment and job opportunities for the region.
The budget has also focused on the education sector, which is crucial for the future of Kent. The government has allocated funds for the rebuilding and modernization of schools in the county. This will not only improve the learning environment for students but also provide employment opportunities for construction workers and boost the local economy. The announcement of a new “Super-Deduction” tax incentive for businesses to invest in machinery and technology will also benefit the education sector in Kent, as schools can upgrade their equipment and provide better facilities for students.
The budget has also addressed the issue of housing, which has been a major concern for the people of Kent. The government has pledged to invest in building more affordable homes and creating a “Right to Build” scheme to help people build their own homes. This will provide a much-needed boost to the housing market in Kent and help first-time buyers to get onto the property ladder. The announcement of a new mortgage guarantee scheme will also make homeownership more accessible for many families in Kent.
The budget has also given a much-needed boost to the tourism and hospitality sector in Kent. The extension of the VAT reduction for the sector until September and the “Eat Out to Help Out” scheme will encourage people to support local businesses and boost the tourism industry in Kent. This is great news for the county, which boasts beautiful coastlines and charming countryside, making it a popular tourist destination.
In conclusion, while the budget may not have had any major surprises, its impact on Kent will be significant. The measures announced by the government will support businesses, create job opportunities, improve infrastructure, and boost the economy of Kent. The reactions from people around the county have been positive, and the budget has been welcomed as a step in the right direction towards economic recovery. As we navigate through these tough times, we can be hopeful that the budget will help Kent emerge stronger and more resilient.
