In contrast to previous months, November saw the number of claimants of the Job-seekers Allowance (JSA) rising from 4.7% to 5.1% in Great Yarmouth. Together with North Norfolk (8.2%) these were the only two districts in the County to see their JSA claimant rate rise.
As a result of this increase, Great Yarmouth now sees itself sat in 15th place on the national table of highest JSA claimants. Norwich saw the greatest fall in JSA claimants, as their rate fell by 5.2% closely followed by a 4.8% drop in Broadland.
On a better note for Great Yarmouth, data from a chartered Institute of Personnel Development (CIPD) survey of 1,000 employers revealed that the short-term jobs outlook is at its most positive for five years. And, whilst Great Yarmouth resident wages are lower than the rest of Norfolk, workplace wages remained higher, highlighting that there are still relatively well paid jobs available in Great Yarmouth.
Norfolk Chamber of Commerce welcomes the Government approval for the £19m improvement of the A47 Postwick junction, at the eastern end of Norwich Southern Bypass. This is a project which has been on the Norwich Chamber Council’s wish list for a significant time.
Lack of capacity at the junction has prevented existing planning consents for business and housing development in the area from going ahead. Planning permission for the junction improvement has already been granted by Broadland District Council, but the side road and slip road legal orders also needed approval before the scheme could begin on site. A public inquiry into the side road and slip road orders was held last summer and the Secretaries of State for Transport and for Communities & Local Government have now given their approval.
Caroline Williams CEO Norfolk Chamber said” At last the uncertainty is over and we have the result that the business community has been waiting for. We welcome Norfolk County Council’s commitment to start on the site as soon as possible. We see this decision as a catalyst for new housing and business development. The real celebrations however will start with a positive decision relating to the go-ahead for the NDR application which is still waiting for approval and is subject of a public examination during 2014.”
“This is great news for jobs, housing and the Greater Norwich economy,” said David Harrison, Norfolk County Council Cabinet Member for Environment, Transport, Development & Waste. “We will now be moving as quickly as possible to start on site, and I expect that developers whose planning permission depends upon the junction improvement will soon be doing the same.”
Government funding for the Postwick Hub – the junction improvement and expansion of the Postwick Park & Ride – has been available since 2009 when £21m was allocated from the Community Infrastructure Fund for the Postwick Hub, including expansion of the Park & Ride site. The scheme was reviewed by the new Coalition Government and £19m in funding for the junction was confirmed as part of the £86.5m allocation for Norwich Northern Distributor Road (NDR).
Although the Postwick Junction improvement is important for the NDR, it is also vital in its own right to unlock business and housing growth in the area. The Planning Inspectorate is currently reviewing the NDR application as part of the Nationally Significant Infrastructure Project (NSIP) development approval process. Whether the NDR goes ahead depends upon a Development Consent Order being granted and this will be the subject of a public examination during 2014.
(This link will take you to the inspector’s report and decision letter:
BCC’s Quarterly Economic Survey is the first major economic indicator of the year, and is closely watched by the Bank of England and the Treasury
Positive Q4 survey suggests that growth will continue and probably strengthen further in the short term
Most Q4 key balances are higher than their pre-recession levels in 2007
Norfolk’s manufacturing export balances continued to increase
Norfolk’s service sector domestic balances increased considerably
On the basis of these results, the BCC believes GDP growth in Q4 2013 could be 0.9%
The British Chambers of Commerce’s Quarterly Economic Survey (QES) released today (Tuesday) provides further evidence that the UK economy is growing at a solid pace, and could even strengthen in the short term. The Q4 survey, made up of responses from nearly 8,000 businesses, shows improvements in most areas for both the manufacturing and service sectors, and that all key balances are stronger than their long-term historical averages.
In the manufacturing sector, key balances are at all time highs, and domestic balances in the services sector continue to break new ground. But the recovery must be maintained, as risks persist around access to finance for firms looking to expand, and rectifying this is vital in moving the Norfolk economy from being merely good to being truly great.
Key findings in the Q4 2013 Quarterly Economic Survey:
For both Norfolk manufacturing and services, all the major Q4 balances are stronger than their long-term averages, and most are higher than their 2007 pre-recession levels.
Key manufacturing balances remain strong, allaying fears in Q3 that the growth spurt in manufacturing was temporary: domestic orders (+21%), turnover confidence (+45%), and profitability confidence (+35%).
Export balances in the Norfolk services sector are at record highs for the survey: export sales (+69%), and export orders (+66%).
In addition, the services sector employment balance rose seven points to +24%.
But some concerns do exist. In manufacturing, the key Norfolk balances for domestic sales and orders fell slightly, although these are still strong results.
Manufacturing cashflow in Norfolk fell back from Q3, which underscores the need to promote access to finance, so businesses can expand to meet growing order books.
Intentions to raise prices rose in both manufacturing and services, while inflation and corporation tax both remain major areas of concern for businesses.
Commenting on the results, Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said: “It is a fantastic to start the New Year with a very positive quarterly survey. Confidence is high and our members are resolute in their determination to take the recovery from being good to being truly great. Firms from all sectors across the County believe they can create jobs, invest, and export. It is especially pleasing that the spurt in the manufacturing has proven not to be a fluke, which demonstrates the dynamism of our small, high value, manufacturing sector. But Norfolk businesses have major ambitions, and to be able to meet them, more support must be provided.”
“Cashflow continues to be an ongoing concern, and may hold businesses back from expanding to meet the growing levels of demand. We must give companies the opportunity to get the finance they need to go out and trade the world if we are to succeed in rebalancing the economy.”
Commenting on the results, John Longworth, Director General of the BCC, said: “As the 2015 General Election looms ever closer, the government cannot afford to get distracted by short-term political infighting. Long-term growth strategies must be delivered with a strong national consensus, particularly around the infrastructure investments that the country sorely needs. Only then will we have an environment that fosters enterprise and an economy which meets its true potential.”
David Kern, Chief Economist at the BCC, said: “With most key balances in this quarter higher than their pre-recession levels in 2007, it is clear that the UK recovery is likely to continue to strengthen in the short term. On the basis of these results, GDP growth in Q4 could well be around 0.9%, and higher full-year growth in 2013 and 2014 could follow. The optimism around medium-term growth prospects refutes the fashionable defeatist talk in some quarters of ‘secular stagnation’.
“The strong export and investment balances confirm that UK business is set to play a key role in rebalancing the economy. However while the overall message from this survey is positive, there are risks that should prevent complacency creeping in. The eurozone’s basic problems have not yet been resolved, which could adversely impact our exporters, and inflation remains a major concern.
“This means it is vital to prevent setbacks as the economic recovery gathers pace. The MPC must continue with its forward guidance on interest rates, and remain steadfast in its plans to keep inflation low and meet the 2% target. On its part, the government has to work to increase the flow of lending to growing businesses through a fully-funded Business Bank, to ease the logjam of those firms striving to expand.”
The UK deficit on trade in goods and services was £3.2bn in November 2013, compared with a deficit of £3.5bn in October 2013, but the October deficit was revised up sharply from the £2.6bn initially estimated
There was a deficit of £9.4bn on goods in November, partly offset by a surplus of £6.2bn on services
Imports from the EU increased to £19.2bn in November, a record high
In the three months to November 2013, exports of goods were 1.5% higher than in the same three months of 2012, but imports of goods were 2.2% higher
Commenting on the UK trade figures for November 2013, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:
“Although there was a small fall in the trade deficit, these figures are disappointing, and indicate a large deficit in the fourth quarter. However, it is not entirely surprising – our economy is growing at a faster pace than those of our major trading partners in Western Europe, and imports tend to increase in such circumstances. Longer term comparisons show that exports are increasing, but this is at a slower pace than is needed.
“Boosting exports must be a national economic priority, particularly when it comes to diversifying our exports towards faster-growing economies outside the EU. Even within Europe, there is scope to do this, as central and eastern European economies such as Poland are growing faster than our traditional trading partners. More support for SMEs looking to trade internationally is needed, and this means giving UK businesses more resources in areas such as trade finance, insurance and promotion.”
Tracey Howard, International Trade Director at Norfolk Chamber commented:
“Norfolk exports definitely increased during 2013. It was the busiest year on record for Norfolk Chamber’s International Department. Of the documents that are stamped at our Norwich office, 14% more EC Certificates of Origin were processed during 2013, and just under 50% more Arab Certificates.
Our members are very busy trading overseas and we expect this trend will continue through 2014. With such a varied range of sectors in our region, there are opportunities galore for everyone to tap into. We will be concentrating this year, on making sure the Norfolk business community are made fully aware of these opportunities and assist them in winning new contracts”
As a follow up to the Norfolk Chamber’s ‘Audience with George Osborne, the Chancellor of the Exchequer’ event on the 7 November, we submitted a number of questions from our members to the Chancellor. Responses to those questions are now starting to be received from the relevant Ministers within Westminster.
Clarke Willis is Chief Executive of Anglia Farmers Limited. The Agricultural company that is based in Horningham Thorpe, Colton have been members of the Chamber for over 8 years.
Clarke’s question to the Chancellor was:
“In East Anglia we now have vast tracks of prime land now being used to grow maize to feed AD (Anaerobic Digester) plants to produce gas which in turn producers electricity.
We have a number of large scale (50 acres plus) PV (photovoltaic panels) which again are being constructed on prime agricultural land and finally we have a straw pellet plant in the county which takes up to 50,000 tonnes of straw, uses energy to grind and then pellet the straw to be loaded on trucks to go to Drax power station to produce “green electricity”.
These projects would not be viable except with massive financial support through FiT’s which we all pay for in our utility bills.
On the other hand we are seeing global demand for food increasing which is leading to higher prices and shortages. We are net importers of most of the staple foods we eat and the continued growth of the global population will put massive strains on the supply chain.
We could produce more food. In Norwich we have world class crop and food research facilities but they cannot bring to market the innovative and sustainable developments they have because of the government / EU view on GM technology.”
Find on the attached document the written response from the Department for Environment, Food and Rural Affairs.
As a follow up to the Norfolk Chamber’s ‘Audience with George Osborne, the Chancellor of the Exchequer’ event on the 7 November, we submitted a number of questions from our members to the Chancellor. Responses to those questions are now starting to be received from the relevant Ministers within Westminster.
Richard Ross is Director at Chadwicks Ltd who have recently reached their one year anniversary as members of the Norfolk Chamber of Commerce.
Richard’s question to the Chancellor was:
“While the recent improvements in employment prospects are to be welcomed I am sure the Minister will join me in agreeing that the persistency of high levels of unemployment in younger people are a source of national shame for which we all – government, businesses, educators, parents – must take our share of responsibility. Those least responsible are the young people, many of whom have worked hard to prepare for a productive life only to have those dreams cruelly snatched away from them.
Can you reassure us that suggestions made by Mr Cameron, and detailed by Mr Gove, to restrict benefits to under-25s were no more than Party Conference over-exuberance and that there is no intention to further ostracise this important future resource by implicitly laying the blame for high youth unemployment at their feet rather than where it should truly sit?”
Find on the attached document the written response from the HM Treasury.
Commenting on statement by Chancellor George Osborne on the minimum wage, John Longworth, Director General of the British Chambers of Commerce (BCC) said:
“Although it is clear that there is an increased disparity between the highest and lowest earners, arbitrarily raising the floor isn’t necessarily the solution and could in fact make the UK economy uncompetitive in the long term. The adverse effects of an unaffordable minimum wage hike would also be predominantly concentrated among SMEs, young people and graduates. If we want to spread the wealth around as the economy recovers, we need a long-term plan to create a high-skill, high-wage economy, including action on infrastructure and access to finance.”
Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said:
“Increasing the minimum wage by more than inflation rate could have a detrimental effect on the Norfolk business community, the majority of whom fall into the SME bracket. Economic recovery is fragile and many employers are working hard in challenging markets and increased wage bills would slow their progress to growth.
The Living Wage campaign has been gathering momentum across the the public sector and larger employers and this looks to be a compromise, increasing the minimum wage but keeping it lower than the Living Wage rate.”
Greater Cambridge Greater Peterborough LEP West Norfolk Skills Survey
As we head into 2014, the Greater Cambridge Greater Peterborough LEP (GCGP) is busy making plans for the future and they need your help. Looking ahead, the Government has determined that the GCGP LEP will have strategic influence over public funded training, as well as the ability to direct European Funds to where they are needed most for the West Norfolk local area and for our local businesses. This is where they need your help.
With increased influence and the ability to help shape the training available to local people the GCGP want to find out what you, as a local business in West Norfolk, need to help your company succeed in the future. Your views are also vital to help secure future funding for the GCGP LEP area. They have launched an online survey to find out more about your current and future skills and training needs to help them ensure that what is delivered locally meets your requirements.
The survey should take no more than ten minutes to complete and they would really appreciate your input. Complete the online survey here.
The GCGP would appreciate your support by completing the Skills Survey and also letting your contacts know about both of these projects where appropriate.
As a follow up to the Norfolk Chamber’s ‘Audience with George Osborne, the Chancellor of the Exchequer’ event on the 7 November, we submitted a number of questions from our members to the Chancellor. Responses to those questions are now starting to be received from the relevant Ministers within Westminster.
Saul Humphrey is current Managing Director at one of the Norfolk Chamber’s longest standing members: RG Carter Ltd.
Saul’s question to the Chancellor was:
“The industry I work in is construction and as you know construction makes up 8% of GDP and accounts for about 10% of all employment. The benefit of investment in construction is however not only immediate, but also much long-term with economic and social benefits for all.
In truth my industry’s embryonic economic recovery is largely quite London centric and dominated by the house building sector following the Governments introduction of the “Help to Buy” mortgage guarantee Scheme.
Unfortunately proposal infrastructure investment in High Speed 2 is also not expected to have any benefit to the Norfolk population. It also appears the Green Deal has also not yet really caught the public imagination and even proposed capital investment for Sizewell ‘C’ will be controversial to say the least.
I am delighted that we are seeing improvements to the A11 and hopefully future investment in the NDR. Proposed improvements to the train line from Norwich to London and support for the growing science and research community at NRP is also very welcome.
What more can we all do together for the benefit of Norfolk and indeed the East of England to help accelerate the economic recovery, help achieve our carbon reduction commitment and, in doing so, help our country to grow its economy in a sustainable manner?”
Find on the attached document the written response from George Osborne.
As a follow up to the Norfolk Chamber’s ‘Audience with George Osborne, the Chancellor of the Exchequer’ event on the 7 November, we submitted a number of questions from our members to the Chancellor. Responses to those questions are now starting to be received from the relevant Ministers within Westminster.
Ian Hetherington is Fuel Terminal Manager of Asco UK Ltd in Great Yarmouth. Asco have been members of the Chamber for 10 months having joined in March of 2013
Ian’s question to the Chancellor was:
“According to reports this month the big six energy firms received almost £900 million last year through consumer subsidies. This was worth £200 million more than the electricity produced by on and off shore wind farms. Onshore farms receive approximately 50% of their income through subsidies and with offshore wind farms; it’s about twice the value of electricity produced. With this in mind, can the Chancellor say with any certainty that electricity generated by wind farms will at some stage become self-sufficient and affordable, thereby removing the need for consumer subsidies (and also government subsidies) and if so, how will this affect investment in future wind farm construction projects? i.e. will we see it decline?”
Find on the attached document the written response from the Department of Energy & Climate Change.
As a follow up to the Norfolk Chamber’s ‘Audience with George Osborne, the Chancellor of the Exchequer’ event on the 7 November, we submitted a number of questions from our members to the Chancellor. Responses to those questions are now starting to be received from the relevant Ministers within Westminster.
Andrew Sherwood is Human Resources Director at Bernard Matthews who are not only one of the Norfolk Chamber’s Gold Patrons but is one of Norfolk’s biggest known brands.
Andrew’s question to the Chancellor was:
“The Prime Minister has recently announced a review of ‘Green Energy Taxes’ following the recent increases in energy prices by the major energy companies. This will bring a significant level of uncertainty to investors and developers alike, supporting the green energy agenda. Green Energy taxes make up a 9% of the average dual fuel bill and support the government’s commitment to carbon reduction and renewable energy.
Can the government give the commitment to provide certainty with green energy taxes moving forward to provide the confidence to allow investments to continue to be made in this sector?”
Find on the attached document the written response from the HM Treasury.