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Vince's visit brings hope
LIBERAL Democrat shadow chancellor Vince Cable MP was in Eastbourne this week visiting a new development of bungalows in Rangemore Drive built by Ellis Builders of Eastbourne.
Mr Cable has carved out a reputation for his informed analysis of the economic problems facing the UK and enjoys cross-party respect whenever he speaks on the subject.
The Daily Telegraph recently described him as 'easily the most popular politician in Britain and, many think, the best chancellor Labour never had.' He famously delivered the ultimate putdown in the House of Commons, saying; Gordon Brown had gone 'from Stalin to Mr Bean.'
Ellis Builders' MD Derek Godfrey joined Mr Cable and members of the Eastbourne business community for the event. He said, "Despite the cynicism for many politicians, there's no doubt that Vince Cable enjoys considerable admiration amongst the public and his Westminster colleagues for his wit and wisdom. It was very interesting hearing him speak and explain how he thinks we can get out of this recession."
After viewing the development Mr Cable, speaking exclusively to Business Matters and local business leaders, gave a 30-minute speech and question and answer session covering a wide range of issues connected to the global financial crisis.
He said, "It is good coming to Eastbourne and meeting Derek and seeing how, despite the UK banking crisis, he has managed to create such an attractive development of new homes. With so much of the banking industry now in public ownership, it is ludicrous lending for worthwhile projects isn't forthcoming."
The visit follows hot on the heels of his stinging criticism of the recent budget. The audience of Eastbourne Business representatives included the incoming president of the Chamber of Commerce, Christina Ewbank.
She said, "We were very lucky to have such a respected politician visit. The Chamber of Commerce will continue to work closely with our members and do everything possible to help steer Eastbourne through this unprecedented downturn."
The fear that the worst may be yet to come was reflected by Andy Hill, Director of OBC Accountants, who said, "I'm hoping the actions taken by Government will soften the impact in Eastbourne and by the end of the year we will see signs of recovery. But, until lenders are willing to ease this crisis, then I think we will see many businesses continuing to struggle in 2009."
Stephen Lloyd said, "When Vince speaks, the business community listens. It was excellent having him in Eastbourne, speaking directly to people who are employing residents and helping to drive the economy in the town."
One of the key indicators of the health of the local economy is gauged by the number of people shopping at the Eastbourne Arndale Centre.
Centre manager Bill Plumridge, said, "It's quite obvious that, nationally, the rest of 2009 is going to be difficult but, footfall in the Arndale Centre was slightly up in the first quarter compared to last year. With more people taking holidays within the UK this summer, Eastbourne should benefit."
Some law firms have been badly hit by the downturn. Eastbourne solicitors Mayo Wynne Baxter confirmed trading was tough, but said larger firms were better able to ride out the storm.
Managing partner Chris Randall said: "The legal world has been significantly affected by the economic downturn as many aspects of our business are property related or arise from transactions between organisations that may, until recently, have been seeking opportunities to grow. Clearly, when there is less enthusiasm for transactions of that nature, there is less opportunity for solicitors to be advising on them.
"There is, to an extent, a cushion for solicitors, particularly larger firms like ours, in terms of the breadth of work undertaken. Some areas of our practice, such as clinical negligence and personal-injury claims, are largely unaffected by economic factors. Other areas are counter cyclical, such as employment advice, business restructuring, debt recovery, family law and litigation and in all of these latter parts of the business we have seen growth in the amount of instructions received."
Charities are also having a tough time. Fundraising director for St Wilfrid's Hospice in Eastbourne, Frances Lewis, told Business Matters, "The current climate is challenging and St Wilfrid's is working harder than ever to ensure all fundraising activities are tailored to specific donor needs.
"Equally, events have been reviewed. The annual ball will take place on November 27 and tickets are half last year's price it's also timed to encourage businesses to attend as their christmas party event.
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Weather for Eastbourne
Wednesday 23 May 2012
Today
Sunny
Temperature: 13 C to 22 C
Wind Speed: 12 mph
Wind direction: West
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Sunny spells
Temperature: 13 C to 22 C
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