Chamber News

• BCC upgrades 2014 GDP growth forecast from 3.1% to 3.2% – the highest growth rate since 2007
• Growth forecast for 2015 upgraded from 2.7% to 2.8%, but remains unchanged for 2016 at 2.5%
• First increase in official interest rates to 0.75% expected in Q1 2015
• GDP growth will continue at a strong pace of 0.8% in Q3 2014
• Exports of goods and services downgraded: from 1.9% to 0.8% for 2014, from 4.2% to 4.1% for 2015
• John Longworth: “We must ensure the stellar growth in 2014 is not a flash in the pan”

The British Chambers of Commerce (BCC) has today (Thursday) upgraded its GDP growth forecasts for this year and next year – from 3.1% to 3.2% in 2014 and from 2.7% to 2.8% in 2015. With expected growth of 3.2%, 2014 will be the first year since 2007 that growth will have exceeded 3%. This is largely due to stronger employment figures and higher expected growth for Q3 and Q4 2014 than previously forecast in May.

The business group, which represents thousands of companies across the UK, is forecasting a moderate slowdown in growth from 2015, with its prediction for 2016 remaining unchanged at 2.5%. This reflects a deceleration in household consumption and falling public spending as a share of GDP. BCC Director General John Longworth says we must do everything possible to ensure the strong growth in 2014 is not a ‘flash in the pan’. He calls the expected slowdown in 2015 and 2016 a ‘warning sign’ for the UK, which is currently too reliant on consumer spending as a growth driver.

ECONOMIC FORECAST – OVERVIEW

• The BCC is raising its UK GDP growth forecast from 3.1% to 3.2% in 2014, and from 2.7% to 2.8% in 2015.
• Upgrades for 2014 and 2015 are mainly due to: a stronger labour market; higher than expected growth in Q3 and Q4 2014; and upgraded ONS estimates for year-on-year GDP growth in Q2 2014.
• For 2016, the BCC’s GDP growth forecast remains unchanged at 2.5%.
• The first increase in official interest rates is expected in Q1 2015 to reach 0.75% – unchanged since our last forecast in May.
• The BCC expects modest increases of 0.25 percentage points, with interest rates reaching 1.25% in Q4 2015 and 2.25% in Q4 2016.
• After official rates start rising in 2015, household consumption will slow markedly. But consumption will still contribute to GDP growth more than other areas of the economy.
• The UK unemployment rate is forecast to fall from 6.4% in Q2 2014, to 5.5% in Q2 2015, 5.0% in Q2 2016 and 4.9% in Q2 2017.
• The new forecast for exports of goods and services has been downgraded for the next two years: from 1.9% to 0.8% for 2014, from 4.2% to 4.1% for 2015, and remains unchanged at 4.6% for 2016.
• The downgrade in exports is due to the lower than expected figures for Q2 2014. The ONS also revised down its historical figure for exports in 2013, from 1.9% to 0.5%.

Commenting, Caroline Williams, Chief Executive if Norfolk Chamber said:

“Business confidence in Norfolk continues to grow. With increased certainty surrounding the local economy, businesses feel able to invest, however there is still room to grow, as the number of organisations operating at full capacity remains low. The UK is now one of the cheapest manufacturing locations in the Western hemisphere, according to a report from the Boston Consulting Group and many Norfolk businesses are reporting strengthening order books for overseas sales. The Norfolk service sector remained on trend and grew in July 2014 and unemployment figures across Norfolk showed further reduction. The Norfolk business community continues to strive towards economic growth.”

Commenting, John Longworth, Director General of the BCC said:

“Our forecast confirms that Britain has become one of the fastest-growing developed economies. We are leading, rather than following, other major economies when it comes to short-term growth. Businesses up and down the country should be congratulated for their hard work and determination in driving the UK recovery despite a number of international and domestic challenges.

“The task at hand is to ensure that the stellar 2014 growth is not a flash in the pan. We need to invest and export more, innovate, and build. It is disappointing that we have downgraded export growth for the next two years as a strong international trade performance is key if we are to steer away from a reliance on consumer spending. While business investment is forecast to grow strongly over the next three years, it will be growing from a low base. To sustain investment momentum into the future, the government and the Bank of England need to give businesses the confidence they need to invest by keeping official interest rates low for as long as possible. Any future rate rises must be gradual and modest.

“The UK must aim higher than accepting growth rates that simply go back to where they were before the recession, or worse – fall even lower. If we are to maintain a world-leading growth performance, we need a long-term partnership between government and business – with ministers unblocking infrastructure projects and improving access to finance so firms across the UK can invest, create jobs and export. We have a wealth of impressive and enterprising businesses in the UK, and there is no reason why a 3% growth rate should be the height of our ambitions.”

David Kern, Chief Economist at the BCC, said:

“Though our GDP forecasts have been upgraded for the next two years, we are predicting a slight slowdown in the pace of growth from next year. This reflects a deceleration in household consumption, and falling public spending as a share of GDP. Together, these factors will more than offset the increased contributions to GDP growth from investment and trade.

“We predict strong growth of 0.8% per quarter in the second half of this year. But as interest rates start to rise in 2015, indebted households with mortgages will face increased financial pressures, and much weaker household consumption will act as a drag on growth. To maintain our world leading performance, we may have to look to other sources of growth. Greater efforts to boost exports and investment, and avoiding premature interest rate increases, will ensure that the recovery is sustainable and that the pace of growth can strengthen in the future.

“The UK recovery remains on course and we are now outperforming other major economies. But many potential obstacles remain up ahead. Geo-political uncertainties such as Ukraine and the Middle East and sluggishness in the eurozone will remain serious challenges for some time. It is therefore doubly important to address the risks that we can tackle, such as the UK’s huge current account deficit. To continue driving the recovery, businesses need a stable and supportive environment that encourages enterprise, with low interest rates.”

OTHER ELEMENTS FROM WITHIN THE FORECAST

Main components of demand

• We expect growth in household consumption to strengthen to 2.9% in 2014, and then slow to 2.8% in 2015 and 2.2% in 2016. Our new forecast is higher than in Q2 for 2014 and 2015, and unchanged for 2016.
• Our new business investment forecast predicts stronger 2014 growth than we expected in Q2, but unchanged growth in 2015 and 2016. We expect business investment to record relatively strong positive growth of 10.7 % in 2014, 7.4% in 2015 and 7.4% in 2016. Even so, business investment will only surpass its Q1 2008 pre-crisis peak in Q3 2016.
• Our forecast is that the real net trade deficit will fall from 1.4% of GDP in 2013 to 0.8% in 2016, while the net deficit in current prices will fall from 1.8% of GDP in 2013 to 1.2% in 2016. As in recent years, the progress of net trade will be mainly due to a higher trade surplus in services.

Main sectors of the economy

• The services sector, the UK economy’s long-standing main growth driver, is forecast to record calendar year growth of 3.3% in 2014, 3.1% in 2015, and 2.7% in 2016. The share of services in total UK output is likely to rise a little further in the next few years.
• Our new forecast for total industrial output predicts positive calendar year growth of 2.0% in 2014, 1.4% in 2015 and 1.4% in 2016.
• Manufacturing output: Our new forecast envisages positive manufacturing growth of 3.0% in 2014, 1.5% in 2015 and 1.6% in 2016.
• Construction output: In full-year terms, we predict construction output growth of 4.3% in 2014, 2.8% in 2015 and 3.0% in 2016.

Official interest rates

• Our new central forecast is that the first increase in UK official interest rates, to 0.75%, will occur in Q1 2015. This timetable is unchanged since our Q2 forecast.
• Further modest increases in official rates can then be expected, in small steps of 0.25 percentage points, with official rates reaching 1.25% in Q4 2015 and 2.25% in Q4 2016.

Unemployment and productivity

• Our new forecast envisages that the UK unemployment rate will fall from 6.4% in Q2 2014 to 5.5% in Q2 2015, 5.0% in Q2 2016 and to 4.9% in Q2 2017. We expect UK unemployment to fall faster, and to a lower level, than we predicted in Q2.
• We are forecasting total UK unemployment to fall from 2.077 million in Q2 2014, to 1.817 million in Q2 2015, to 1.677 million in Q2 2016, and to 1.657 million in Q2 2017 – a net overall fall in total unemployment of 420,000 over the next three years
• We are forecasting that total youth unemployment (people aged 16 to 24) will fall from 767,000 in Q2 2014 (a jobless rate of 16.9%), to 636,000 (a jobless rate of 13.8%) in Q1 2017, a net fall of 130,000
• Productivity: Our forecast envisages modest increases in productivity from current low levels. However, productivity is unlikely to reach its pre-recession level in the next three years.

Public finances

• UK public finances: The OBR forecast, outlined at the time of the March 2014 Budget, is realistic in predicting steady falls in borrowing. But the OBR’s timetable is slightly too ambitious in our view.
• While the OBR is forecasting that UK public sector net borrowing would move into a small surplus in 2018/19, our view is that achieving this aim this would take one to two years longer.

Inflation

• In annual average terms, we are forecasting annual CPI inflation at 1.8% in 2014, 1.9% in 2015 and 2.0% in 2016. In Q2 we predicted 1.9% in 2014, 2.0% in 2015, and 2.1% in 2016.

On Thursday 21 August over 60 delegates joined us for an evening of fashion, networking and a lot of fun! This year’s Look the Business was held at Jarrold in their newly refurbished Benji’s cafe with Norfolk Chamber being one of the first to hold an event there.

The evening got started with a fun networking activity called Who Am I? Each delegate had a sticker with a famous person’s name on their back and they had to guess who they were in teams asking only yes or no questions, while indulging with a glass of wine and delicious canapés being served.

Andrew Thorpe, Finance Director at Jarrold talked to the delegates about how Jarrold has positioned itself to compete successfully in the increasingly popular multi-channel retailing. He explained that a combination of fantastic staff, increase of online presence, locally sourced products as well as an outstanding reputation that can bring in global brands has helped to make them stand oput in the marketplace.

It was then on to the much anticipated part of the evening the skincare demo and fashion show. Beauty experts from Clinque let the delegates try out some testers and a new product – sonic brushes. This led onto the fashion show, where delegates got to see three styles; casual, smart/casual and special occasions modelled by both males and females from Jarrold.

The event finished with an exclusive hour for the delegates to go shopping along with a 20% discount for that night only. There was such a great buzzing atmosphere all evening with lots of delegates tweeting.

To view more photo’s from this event visit ourFacebookorGoogle+page.

Our next After Hours event is Gizmos & Gadgets on 18 September at John Lewis. A new exciting event filled with all the technology know-how you could ever need in business. With HP, Google & Sony all providing you with the chance to have a go with some of the most recent technology products. Sponsored by Customised Ltd.To book your place or for more details clickhere.

Chamber members at the ‘Look the Business’ event at Jarrolds in Norwich showed their support for the Great Eastern Rail Campaign last night.

The Norfolk Chamber has been lobbying collectively with its partners for years for an improved Norwich to London rail service but the campaign took a significant positive step forward with the production in 2009 of the ‘Once in a Generation Rail Prospect for East Anglia’. Chamber members achieved a breakthrough in 2013 when at a Norfolk Chamber event the Chancellor George Osborne announced the creation of a Taskforce to deliver the Norwich in 90 campaign.

This Taskforce has been working with Norfolk, Suffolk and Essex and the campaign has been rebranded as The Great Eastern Rail Campaign.

The campaign is looking to achieve:

• A faster and more reliable trains service Norwich to London in 90 mins
• More seats and more improved carriages
• Significant investment to upgrade the track

Caroline Williams CEO Norfolk Chamber of Commerce said: “The Norfolk Chamber membership are passionate about securing an improved rail service. Our economy is really starting to grow and we need the infrastructure to support this growth.

We have a great opportunity of the next couple of months to visibly show the government just how important investment in our railways is to us as the business community and our workforce.

If you are reading this article and have not yet physically shown your support which take only a few moments please do so now. https://www.norfolkchamber.co.uk/great-eastern-rail-campaign

• Annual CPI inflation in July 2014 was 1.6%, down from 1.9% in June
• The largest contribution to the fall in inflation was clothing prices
• The largest offsetting factor came from transport
• Goods price inflation in July 2014 was 0.8%, while services inflation was 2.5%

Commenting on the CPI inflation figures for July 2014, published today by the ONS, Caroline Williams CEO Norfolk Chamber of Commerce said:

“The welcome fall in inflation confirms that the increase in June was temporary and doesn’t signal a new upward trend. While wage increases remain very low and the pound is still relatively strong, we expect inflation to remain below the 2% target for the foreseeable future.

“Although the recovery remains on track, it is still fragile and now is not the time to put it at risk with premature interest rate rises. We must nurture the business confidence we are seeing at present by giving businesses the security of working in a low interest rate environment. The government should reinforce this stable backdrop by introducing measures to help firms access the finance they need to grow, and by enhancing support for our exporters.”

A new study has shown that there is a strong economic case for an east-west rail link that would open up the possibility of new journeys from Norfolk to the Midlands and beyond, without the need for passengers to make their way across London.

The East West Rail Consortium has published a report showing that extending the East West Rail line from Oxford to Cambridge has real potential. It shows that the delivery of attractive new rail services between key locations could deliver substantial economic benefits and support significant growth in the East West Rail corridor.

The report concludes a study by Atkins Consultants and is the first step towards developing an outline business case for the East West Rail ‘Central Section’. The Western Section, between Oxford, Bedford and Milton Keynes is already going ahead**.

Working closely with the East West Rail Consortium and Department for Transport, Network Rail will now lead the next phase of work which will examine the feasibility and cost of several potential route options for the Central Section. That work is expected to identify a preferred route and service pattern in early 2015 and provide the basis for the development of an outline business case.

All the route options would link to Cambridge, opening up the possibility that the line, if constructed, would provide rail journeys from Norfolk to hard to get to destinations in the south Midlands such as (depending upon the final route) Luton, Bedford, Milton Keynes and Oxford, and onward journeys to south-west England and south Wales – and without the need to cross London between rail terminals.

The aim of the next phase of work is to establish a scheme with a robust and convincing business case that can be submitted to Government in 2016 to secure inclusion of the scheme, subject to funding availability, in the 2019-24 investment plans for the rail industry.

It has been a long term aim of the East West Rail Consortium to improve rail connections within the region by re-instating the former ‘Varsity Line’ between Cambridge and Oxford. This would provide the rail infrastructure for train services to run from East Anglia to Oxfordshire and beyond, with connections to all national mainline services to the north, west and south of England.

Bev Spratt, Chairman of Norfolk County Council’s Economic Development Sub-Committee, said: “Improving rail infrastructure is vital for the Norfolk economy, and new east-west rail connections to Oxford and beyond would complement the road improvements underway on the A11, that are planned for the A14, and that we are pressing for on the A47.

“There’s no doubt that improving Norfolk’s strategic links to the rest of the country will strengthen the world-class industries we already have, and make the county even more attractive for further inward investment.”

Bob Menzies, Service Director for Strategy and Development at Cambridgeshire County Council and Chair of the East West Rail Central Section Steering Group, said: “Now that the Western Section between Oxford, Bedford and Milton Keynes is going ahead, we are working to develop the business case for the Central Section to complete the missing link. To do this, we need to identify a route that will deliver the greatest benefits to support the case for investment.

“The good news is that this study shows there is significant economic growth potential that could be unlocked through new rail services and that the Government is providing funds for Network Rail to undertake the next vital phase of feasibility work to identify a preferred route.

“The former line between Bedford and Cambridge has been dismantled, the land sold and sections used for other purposes, including housing. This means that we are looking at constructing a brand new stretch of railway. Several routes have been considered in the past but until now there has not been clear justification for investment.

“This is why we commissioned Atkins to identify where the greatest economic benefits could be realised through improved transport links. The study considers forecast population growth, employment levels, economic activity and planned growth as well as a review of existing and forecast transport requirements.”

Dr Julian Huppert, MP for Cambridge and Vice Chair of the All Party Parliamentary Group for East West Rail said: “There’s no doubt that we need this railway – linking Norwich and Ipswich through Cambridge to Oxford and Reading has huge benefits; that’s why I’ve pressed for it for years. But the route is hard to find, and people have quite rightly been asking which route would be taken, how much it will cost and when it will finally happen – this study helps us to answer those concerns. I am delighted that Network Rail will now take forward the next phase of route design and produce a business case.”

• Bank of England raises 2014 growth forecast to 3.5%, up from 3.4% in May
• Inflation will remain slightly below its 2.0% target over the next two years
• Amount of slack in the economy is now estimated at 1% of GDP, below previous estimate of 1.25%

Commenting on the Bank of England’s Quarterly Inflation Report, David Kern, Chief Economist at the BCC, said:

“The Bank of England’s Inflation Report conveys mixed messages on the outlook for interest rates. The higher growth forecast for 2014 and the lower estimate for the amount of slack in the economy may be seen as a signal to bring forward interest rate rises. However, Governor Carney’s comments will reassure businesses that the MPC will not rush any increases in rates. He also acknowledged that the rising supply of labour in the economy may provide new sources of economic capacity.

“It is pleasing that the MPC has reaffirmed its commitment that when rates start to rise, they will do so slowly and not reach the level seen before the recession. We must nurture the business confidence we are seeing at present by giving businesses the security of working in a low interest rate environment for the foreseeable future.”

• In the three months to June 2014, employment rose by 167,000, while unemployment fell by 132,000 (to 6.4%)
• Total pay including bonuses fell by 0.2% while pay excluding bonuses was up 0.6%

Commenting on the labour market statistics for August 2014, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

“These figures show that the UK labour market is strong and flexible. However, wages growth declined on the quarter for the first time in five years, which is a warning sign that the economic recovery although on the right track, is still fragile.

“The earnings figures confirm that there are no serious inflationary pressures at present, with the strength of sterling also putting downward pressure on inflation. In this environment, the MPC needs to take its time before considering a rise in interest rates, and assure businesses that when they eventually start rising, this will happen slowly and at a measured pace.”

Commenting on today’s A-Level results, Marcus Mason, Policy Manager for Employment and Skills at the British Chambers of Commerce (BCC) said:

“Students and teachers across the UK deserve to be congratulated for achieving a strong set of academic results. Businesses will applaud the increased take up in science and maths, subjects that are vital for the success of the UK economy. However, the continued decrease in the take up of foreign languages is a worrying trend as many businesses report that there is a skills gap in this area. Having strong knowledge of a foreign language is an excellent way of preparing young people for the wide-range of opportunities available in today’s globalised world.

“The halting of continuous grade inflation will also help to restore business confidence in A-levels.

“Despite strong academic results, youth unemployment remains persistently high, and action must be taken to ensure young people are attractive candidates to employers looking to hire. Young people should leave the education system with a career direction that is relevant to them and the skills and attitude that employers want.

“Pupils should be exposed to local businesses during their schooling – as this is one of the best ways to learn about local labour market demands and opportunities. Better careers education from primary school age, compulsory work experience placements and employer visits in schools and colleges will equip students with the best possible chances of finding employment.

• BCC publishes the results of its international trade survey highlighting the untapped potential of service sector exporters in rebalancing the UK economy
• The BCC calls for action to tackle language, regulatory and funding barriers to encourage potential exporters to take their first step towards doing business overseas
• Caroline Williams: ‘We need to turn this untapped export potential into reality and help drive the Norfolk economy.’

Overview

The British Chambers of Commerce (BCC) is releasing further results from a major international trade survey, which highlights the untapped potential of businesses within the service sector to rebalance the economy towards exports.

The results, collated from more than 1,565 service sector firms within the UK, show that 18% of service sector companies are on the verge of exporting. The service sector is performing well and growing, and provides huge opportunities for export growth. But the BCC is calling for more to be done to support potential exporters in taking that first step, as this could go a long way towards eliminating the UK’s trade deficit by 2020 – an ambition shared by the BCC.

Barriers and calls to action

Reflecting on their experience of exporting for the first time, service sector firms identify the biggest barriers to entering new markets. These barriers must be addressed if we are to support those firms who are on the verge of exporting in taking that initial first step:

Barrier: Excessive overseas regulation was the largest barrier to trading internationally identified by almost one third of service sector exporters (32%). Call to action: The Chamber is calling for a reduction in red tape, including the completion of the EU Single Market in services.

Barrier: One quarter of service sector exporters (26%) reported that language and cultural differences are a barrier to exporting Call to action: The Chamber is calling for foreign language learning to be made compulsory between the ages of 7 and 16 to help entrepreneurs become more globally minded.

Barrier: Exporting firms also identified a lack of funding (24%) as a barrier towards exporting for the first time. Call to action: The UK should be matching the efforts of countries like Germany that invests much more in its bilateral Chamber Network. Furthermore, the UK banking sector could and should do more to provide businesses with the working capital they need to fund exports.

Additional findings from within the survey:

Untapped export potential and barriers facing UK service firms

• Of the service sector firms surveyed, 23% are currently exporting. This is only one percent higher than in 2013.
• An additional 18% of service sector companies (almost one in five) are on the verge of exporting – the same figure as last year.

More service sector exporters need to target emerging markets

• Europe (81%), Asia including the Middle East (54%) and the Americas (48%) remain the largest target markets for service sector exporters.
• The BCC is encouraging more service sector firms to look beyond traditional markets for export opportunities. Africa for example has been identified by the IMF as having one of the largest GDP growth prospects, with an increased demand for services in countries such as Nigeria.
• Encouragingly, 32% of exporters are already trading with Africa but there is the potential for this figure to become even higher.

Professional services are leading the way

• Professional services (35%) have the largest share of service exports, followed by financial and business services (25%).
• Education and training contributes 22% of service exports and IT and communication services account for 20%.

Caroline Williams CEO Norfolk Chamber said: “Norfolk exporters have consistently be growing their businesses and the Norfolk Chamber has consistently beaten its own international business plan targets through their activity. During the down turn many owner managers did not have the time resource to look at trading internationally but now we have noticed a considerable increase in enquires for countries across the globe. During the Autumn we will be holding specific events for business looking to start exporting as it is a great way to grow a business.”

Commenting on the findings, John Longworth, Director General of the British Chambers of Commerce (BCC) said:

“The services sector could hold the key to unleashing the export potential of the UK – with its large trade surplus playing a significant role in offsetting the UK’s goods trade deficit, totaling more than £100bn. This proves that the sector is strong, but if we can convert the remaining untapped export potential into a reality, it could go a long way towards eliminating the UK’s trade deficit by 2020 – an ambition shared by the British Chambers of Commerce.

“We need a culture change in the UK when it comes to international trade. This means more investment, stronger language skills and a global mindset instilled in people from a much younger age. There is no reason why we shouldn’t be matching the level of export support provided by our major international competitors, like Germany, which spends ten times more on its bilateral Chamber Network than the UK. Having places to go and people to meet in market when business people step off the plane is key to helping make these connections, and selling goods and services into fast-growing global markets.

“The results also highlight that a shortage of relevant skills is undermining the UK’s export performance. To nurture the next generation of exporters we need to encourage young people to gain experience in international trade, by offering them a range of vocational subjects, such as foreign languages, that prepare them for the wide-range of opportunities available in today’s globalised world.

“Only a collaborative approach from the government, Chambers of Commerce and business groups in the UK and overseas and the private sector, will reduce the barriers to international trade – and make significant headway towards rebalancing the UK economy in the long-term.”

Commenting on today’s Monetary Policy Committee (MPC) interest rate decision, Caroline Williams CEO Norfolk Chamber of Commerce said:

“The MPC made the right decision to keep interest rates and quantitative easing on hold. Norfolk’s economic recovery remains on track but is still facing challenges and this is not the time to put it at risk with premature rate increases. The current calls for higher rates, particularly while wage pressures are still weak, are unjustified. Official figures show that a large number of people are working part time because they are unable to find a full time job – refuting the view that there is no spare capacity in the economy.

“The rise in sterling over the past year has put pressure on UK and Norfolk exporters, and is equivalent to a tightening in monetary policy. This strengthens the case against premature on interest rate rises. To sustain business confidence, the MPC must deliver a clear and consistent message on the future path of interest rates.”

Norfolk Chamber members are part of the fantastic response to pledge support for the Great Eastern Rail campaign. Over 500 pledges have been received since its launch on 25th July, representing an important milestone.

Norfolk business have joined with rail passengers and businesses across the region, calling on Government for greater investment in the Norwich to London rail line. In addition to pledging their support Norfolk Chamber members have also been making their reasons heard loud and clear

Caroline Williams CEO Norfolk Chamber of Commerce said: ” Improved rail infrastructure is key to enable Norfolk’s businesses to continue to drive the local economy forward. Norfolk Chamber members are passionate about their businesses and are joining the campaign to show how much they care. We would encourage all Norfolk businesses and their staff to click on the link and pledge their support. We are calling for a faster more reliable train service Norwich to London in 90 minutes, more seats and carriages and significant investment to upgrade the track.”

Mark Pendlington, chairman of New Anglia LEP and co-chairman of the Great Eastern Main Line Rail Taskforce, said: “500 pledges of support is a significant milestone in the campaign. This figure continues to rise and we’re delighted that so many people have signed up for the campaign in such a short space of time. However, we urge as many people as possible – rail users, business people and all those who want a better rail service across Essex, Suffolk and Norfolk to join the campaign now, by signing up on through the New Anglia website. The Great Eastern Main Line is fundamental to the region’s future growth. Let’s make our voice heard loud and clear to influence Government and get the rail service the three counties need and deserve.

It will take only a few seconds, so the Norfolk Chamber encourages all its members and the wider business community to click on the link and pledge their support. It is all about timing and the time is NOW for this final push to show Government our passion and get the service we need and deserve. www.newanglia.co.uk/gerailcampaign

Penny Mordaunt – Parliamentary Under Secretary for Communities and Local Government today visited Great Yarmouth’s Town Centre and was accompanied by a delegation from local businesses including the Chairman of Palmers David Howard, Jonathon Newman, the Great Yarmouth Town Centre and Bid Manager, Brandon Lewis – Great Yarmouth MP and Andy Penman representing the Great Yarmouth Chamber Council.

The tour of the inner town involved a walk through the main thoroughfares; a trip around the busy market place; through Market Gates Shopping Centre; onto Queens street and finished at the Mercury Newspaper headquarters. The discussions focussed on the hard work of each of the local stakeholders – work that is desperately needed to regenerate Great Yarmouth Town Centre and to bring economic growth to the town.