A multi-million pound programme of road maintenance will continue into 2021 with major schemes getting underway in Great Yarmouth, Downham Market and Stalham.
The improvements have been made possible thanks to the £22m highway funding for Norfolk that the Department for Transport announced in May 2020, to fund schemes in the 2020-21 financial year.
Norfolk received more than any other local authority in the East of England for maintenance and repairs to the county’s roads, bridges, pavements and cycle paths.
At £1.2m the mechanical and electrical upgrades for the 90-year-old Haven Bridge in Great Yarmouth is the largest scheme to be funded as part of the £22m programme. Some upgrade works were completed in the autumn, but other work, which will resolve many of the issues caused by the lifting bridge’s ageing equipment, is set to start in February and is expected to take 13 weeks to complete.
Cllr Martin Wilby, Cabinet Member for Highways and Infrastructure at Norfolk County Council, said: “Despite the added difficulties brought by the pandemic the highways team has completed an impressive amount of work over the past year. The extra money for Norfolk means we can do more to maintain and improve our highway network to help support sustainable growth.”
Two key resurfacing schemes are due to be starting in March with a £140,000 scheme in Downham Market to resurface the approach to the level crossing on the A1122, and in Stalham, Stepping Stone Lane will be resurfaced at a cost of £165,000. Across the county the maintenance work will not only repair roads but help to prevent potholes opening-up in the future.
The £22m funding award is in addition to Norfolk County Council’s existing highways capital maintenance budget of £38.6m for the year 2020-2021. Two other major road resurfacing schemes on the A1066 near Thetford, and A1122 near Marham were also made possible by a successful bid for £3.5m from the Department for Transport’s Challenge Fund, which was confirmed in February 2020.
Commenting on the threat of a strike by fuel tanker drivers, Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said:
Norfolk is a rural county and relies heavily on access to fuel, add in the fact that Norfolk has a high percentage of small to medium size businesses and it shows that a fuel strike could be very detrimental to businesses large and small. – Caroline Williams
“Norfolk employers are working flat out to keep their businesses afloat and deliver growth during challenging economic times. The last thing they need to contend with is a fuel strike, which could have a damaging effect on their businesses. Norfolk is a rural county and relies heavily on access to fuel, add in the fact that Norfolk has a high percentage of small to medium size businesses and it shows that a fuel strike could be very detrimental to businesses large and small.
Not only will firms struggle to access the goods they need to run their business, staff won’t be able to get to work, and smaller companies will be forced to shut down and lose takings. Public services could end up being affected, and parents who can’t get childcare will have to take time off and lose pay. Furthermore, many Norfolk jobs depend on sending goods to ports and markets overseas.
“People have already started panic buying, which will lead to further shortages and make the problem even worse. For this strike to go ahead would be totally reckless. With the Queen’s Jubilee and the Olympic Games only months away, the world’s eyes are watching the UK and any decisions to strike will only tarnish our reputation to global investors.”
The government today launched its National Loan Guarantee Scheme, which is intended to help businesses with a turnover of less than £50m access funding more cheaply.
The guarantees will apply to new term loans, hire-lease arrangements and refinancing of loans (where the term amount has changed). Please see the attached information from the government, designed to help businesses understand the scheme. Currently, the banks participating in the scheme are RBS, Lloyds, Santander, Barclays and Aldermore (further banks may join).
Grants of between £25,000 and around £1 million are available to enable “significant game-changing, transformational performance in farm, forestry, tourism, agri-food and micro businesses in rural areas.” Grants will be a maximum of 40% of project costs and must be matched by private funds. Outline applications need to be submitted by 30 April and applications in upland and Rural Growth Network areas will be prioritised.
BCC’s Quarterly Economic Survey for Q1 2012 shows encouraging signs of growth, but the pace of recovery is still too slow
Caroline Williams, CEO Norfolk Chamber of Commerce: “Norfolk and the rest of the UK has the potential to recover, but to achieve that the government has to set businesses free to grow”
The British Chambers of Commerce’s new Quarterly Economic Survey (QES) released today (Tuesday) shows encouraging results for Q1 2012, with most balances recording increases on the last quarter. The new survey, comprising almost 8,000 responses from businesses across the UK, shows a welcome improvement on the results of Q4 2011 which pointed towards stagnation.
While the results are more encouraging than the previous quarter, they show that growth in Norfolk and the rest of the UK is still too weak, with the balances still below those seen in 2007 before the recession. Many manufacturing balances are now at a satisfactory level, but the service sector balances are sluggish.
Balances measuring domestic and export activity across firms showed welcome increases, and more businesses are looking to invest in employing more staff, training, and plant and machinery. However, cashflow is still a real problem, and despite concerns about inflation decreasing, recent increases in oil and food prices may alter this over the next few months.
Domestic orders The Norfolk manufacturing sector saw an increase in domestic sales and orders from the last quarter. This is also reflected across the rest of the East of England and at a national level. However Norfolk’s service sector saw a reduction in both sales and orders from the previous quarter. Nationally the service sector showed a small measure of improvement:
Norfolk manufacturing home delivery results went up 20 points to +32%, and home orders rose 13 points to +19%. However in the Norfolk service sector, the home deliveries balance dipped slightly from 18% to 15% and the home orders balance dropped from 9% to 6%
Exports Export sales and orders in both the manufacturing and the service sectors continue to improve with Norfolk, East of England and the national results all showing increases from 2011:
Balances recording exporting activity for Norfolk manufacturers strengthened in Q1 2012 and rose by 16 points to +37% – a level not seen since Q3 2010. The Norfolk service sector, whilst improving its orders, showed a slow down on actual deliveries in the last 3 months
Though stronger than domestic orders, Norfolk exports are still below levels seen in the BCC’s Quarterly Economic Surveys prior to the recession
Employment Figures for the last 3 months continue to show a downwards trend in both the Norfolk service sector and the manufacturing sector. However Norfolk employers are still showing some optimism for improvement in these figures, with both sectors recording increases:
The manufacturing employment balance is stronger at +14%, than the service sector balance, which is still weak at 3%
Firms in both sectors are more optimistic about future recruitment than during Q4 2011. The balance of Norfolk manufacturing firms looking to increase workforces increased by 7 points to +19%, a level not seen since Q3 2011. In the Norfolk service sector, figures surged by 15 points to +25% – a level last seen in Q1 2011
Business confidence & investment Confidence across both sectors improved in the last 3 months. Norfolk businesses are showing optimism in both turnover and their expected profitability for the next quarter. Both sectors are also advising that investments in plant, machinery and training are also increasing:
The balance measuring Norfolk manufacturers’ expectations for increasing turnover and profitably jumped to levels last seen in Q4 2010. Among the service sector, turnover confidence increased to +54% (last seen in Q4 2010), and profitability confidence rose to 50% (back to levels in Q4 2010)
More Norfolk firms are looking to increase investment. Plans by Norfolk manufacturers to invest in plant and machinery increased to +27% (the strongest level since Q4 2010), and intentions to invest in training increased by 10 points to +31%. For the service sector in Norfolk, the results were mixed with the balance measuring investment in plant and machinery dipping by 2 points to +9%, whilst the training balance rose 2 points to +25%
Cashflow Balances measuring cashflow (the movement of cash in an out of a business) remain weak, and are now in negative territory for both the manufacturing and the service sector in Norfolk. Overall both the Norfolk manufacturing sector and the service sectors have advised that they expect to have to increase prices over the next 3 months. This is reflected at a regional and national level as well. Norfolk manufacturers in particular, have advised that price increases were expected due to raw material costs rising:
The manufacturing cashflow balance fell heavily by 25 points, to -22%. The services cashflow balance also dropped by 13 points, to -16%
Both the sectors reported a decrease in their operating capacity, with only 27% of Norfolk manufacturers and 36% of the Norfolk service sector operating at full capacity
Commenting on the results, Caroline Williams, CEO of Norfolk Chamber of Commerce, said: “It is encouraging to see that businesses are feeling more confidence at the start of 2012 than they were at the end of 2012. Norfolk businesses are showing optimism in both turnover and their expected profitability for the next quarter. Both sectors are advising that investments in plant, machinery and training are also expected to increase. However, the Norfolk economy is still facing huge challenges and the recovery is still too slow.
The results of the Quarterly Economic Survey point to a welcome but modest improvement in the Norfolk economic situation. The UK economy will likely avoid a recession, though the erratic construction figures may distort the ONS estimate. On the basis of this survey, the British Chambers of Commerce are now predicting quarterly GDP growth of 0.3% in Q1 2012, in line with the OBR’s recent forecasts. However, growth is likely to remain low for some time, and a return to a more normal pace is unlikely until 2013.
The BCC forecast for 2012 GDP is 0.6%. Their prediction is lower than that of the OBR* for two reasons. Firstly, we are still concerned that the unresolved problems in the eurozone may trigger new upheavals later this year. Secondly, in view of the increases in oil and food prices since January, our current forecast is that the fall in UK inflation over the next 12-18 months will be slower than first expected.
“With domestic demand in Norfolk remaining weak and unemployment likely to increase over the next year, every effort must be made to boost growth and empower the private sector to create jobs. While the government perseveres with efforts to cut the deficit, it must reallocate priorities, within the spending envelope, towards growth enhancing policies. Red tape must be cut more aggressively, the credit easing programme must be made more effective, and the MPC must do more to ensure that the huge QE programme encourages increased lending to viable SMEs.”
As we start the first working week of 2021, we have reviewed the past 12 months at Layrd in our latest blog. 2020: A Year in Review
To say that 2020 didn’t panned out as anyone expected is an understatement – but it hasn’t all been doom and gloom. In fact, there have been plenty of positives to be grateful for over the past year.
In this article, we take a moment to celebrate some of Layrd Design’s 2020 highlights and look ahead to what’s in store for 2021.
Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“Following the February increase in Quantitative Easing (QE), the decision to keep interest rates and the QE programme on hold was widely expected. With QE still being implemented, and given the MPC’s self-imposed practice of only buying gilts, this was the right decision. However, last month two MPC members voted for an increase in QE to £350bn. While support for this may be strengthening, we believe that adding to QE would be unnecessary.
“We supported past increases in QE because they eased pressures on the banking system and helped to underpin financial stability. However, this has not led to meaningful increases in lending to small businesses, and the benefits to the real economy have been limited. Increasing QE now would only have a marginal effect. There is ample liquidity in the financial system and there is no need to drive down yields on government bonds further.
“The main policy aim must be boosting the unduly low rate of economic growth by increasing lending to viable businesses. To achieve this, it is vital to make the new credit-easing scheme more substantial. But the MPC also has a part to play. The committee should reconsider its reluctance to include assets other than gilts in the QE programme, such as securitised SME loans. This will make the banks less risk averse, and will help to improve the flow of lending to credit-worthy firms.”
The London 2012 Olympics may well be a once in a lifetime opportunity (the last time the Olympics were held in London was 1948) for many of us to experience the Olympics first hand. This has the potential if not handled correctly to cause friction between employees (who wish to attend or volunteer at the Games) and employers (who have businesses to run and staffing levels to maintain.
ACAS have issued some guidance for both employers and employees, which include an informative Q & A section.
Great Yarmouth Borough Council is extending the application period for the “top-up payment” for eligible businesses trading within the hospitality, hotel or B&B, or leisure sectors or in the supply trade to those sectors.
This payment was launched before Christmas under the Additional Restrictions Support Grant scheme, and is for eligible businesses that have already received either a Local Restrictions Support Grant or an Additional Restrictions Support Grant.
The application deadline, originally ending on January 11, 2021, has been extended until midnight on Monday, 18th January, 2021 in order to give as many eligible businesses as possible the greatest opportunity to apply.
In addition, the council has extended, until the same deadline, the deadline for applications to the original Additional Restrictions Support Grant, which was first launched during the second national lockdown for eligible businesses.
The Government has announced financial support for businesses during this current lockdown, which includes additional discretionary funding, the new national lockdown grant and one-off top-up grants for retail, hospitality and leisure businesses worth up to £9,000 per property.
We are awaiting further guidance from Government and will promote these to businesses and make payments as soon as possible. Information will be available on the above webpage
Annual CPI inflation up from 3.4% in February to 3.5% in March
Annual RPI inflation down from 3.7% in February to 3.6% in March
Commenting on the inflation figures for March, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“The inflation figures for March were broadly as expected. However, it is disappointing that the steady fall in inflation seen since September 2011 has been reversed this month. We expect inflation to fall over the remainder of the year, but the decline will be less than the Monetary Policy Committee (MPC) has envisaged. This means that the pressures on businesses and consumers will ease, but not as rapidly as first hoped.
“With inflation falling more slowly than expected, we believe that any further increases to the Quantitative Easing (QE) programme are unnecessary. The main priority should be ensuring that the additional liquidity provided by the most recent QE increase is put to better use to improve the flow of lending to credit worthy businesses. The government’s credit easing programme should be made more substantial, but the MPC must also reconsider its reluctance to purchase private sector assets.”
Tidal Transit Limited provides access, transport and crew transfer services to the industries of the North Sea. Operating from the North Norfolk coast we specialise in safe, speedy and efficient travel for those working in the offshore wind energy sector. Our fleet of custom-built, high specification wind farm work boats offer unparalleled stability and are crewed by fully qualified personnel with a thorough local knowledge and maritime experience.
Tidal Transit Limited was incorporated in January 2011 having formerly traded at Norfolk Fishing Trips under the management of Adam Wright of Thornham. Norfolk Fishing Trips had been running since 2005 offering day charter fishing trips from Brancaster Staithe in the summer and Lowestoft in the winter. It evolved into Tidal Transit to make the most of the growing offshore energy sector around the UK and especially wind.
Since January 2011 Tidal Transit Limited has raised over £2m for funding the development of its fleet of new purpose built offshore wind support vessels. We took delivery of Ginny Louise in December 2011 and Eden Rose in April 2012. The Company plans to build a further 8 vessels upon the same design which we aim to be available during the next 2 years.
Adam Wright (Operations Director) and Leo Hambro (Commercial Director), are in the EDP Future 50 for 2012 and Tidal Transit’s vessels were finalists in EEEGR 2012 Innovation Awards.
Ginny Louise is working for SSE on the Greater Gabbard Wind Farm. Eden Rose will arrive in the UK on 18th April and is looking for work Katie Louise returned to Brancaster Staither for the summer season on 2nd April.
This is an update you all that we will be temporarily reducing timetabled services from next Monday (25 January), given the current travel restrictions and travel patterns associated with this phase of the pandemic. The move has been taken in consultation with the Government, which is providing additional support for the industry during these challenging times to ensure services can still run for those who need them. We will still be running just over 72% of the normal service, so that travellers making essential journeys, in line with government guidance, can still get to work or medical appointments. The main changes are:
Peak services on the Great Eastern and West Anglia main lines will be reduced.
Intercity services between Norwich and London Liverpool Street will be reduced to hourly
Southend Victoria to London Liverpool Street off-peak services will be reduced
Off peak frequency on the Great Eastern branch lines, such as Manningtree to Harwich and Marks Tey to Sudbury will be reduced
Fast services between Cambridge and London Liverpool Street will not run
There will be less frequent services between Bishops Stortford and Stratford and between Meridian Water and Stratford
Off peak daytime services on rural routes in Norfolk, Suffolk and Cambridgeshire will be reduced (generally to two-hourly), with some peak service reductions too
Saturday services are being reduced in line with weekday services and some changes are also planned for Sunday services.
Details of the revised timetables will be available on the Greater Anglia website or app. The changes have all been planned with the clear intent of ensuring we provide enough services and enough seating capacity for customers who do still need to travel in the weeks ahead. We also have in place the cleaning and social distancing measures to enable passengers to travel safely with us and help prevent the spread of coronavirus. We will continue to monitor services on a daily basis to ensure the service caters for all those who are still travelling and assess whether amendments need to be made to the schedules. We look forward to being able to start to add services back in again, when appropriate, in line with government guidance. Take care and stay safe.