If you want to know how the economy is doing, look out for the number of white vans on our streets. New figures released last week by the motor industry revealed the highest level of registrations of new commercial vehicles and vans for seven years; and an eleven per cent increase on the previous year. This is really good news for the economic recovery that is now well underway. Whilst we can look at charts and projections, it is activity in the real economy that tells us what is going on. Delivery and transit vans are the backbone of businesses in Britain. They power small firms and independent traders across the country, and if we are seeing a surge in the registrations of vehicles like these, then it means that more new businesses are doing well and others have the confidence to invest in new equipment. In addition to the surge in registrations of commercial vehicles last year, 2014 also saw the highest level of new cars being purchased for a decade. As a trading nation, the amount of traffic passing through the key entry and exit points of the country, like the Channel Tunnel, is also a good indication for the strength of the economy. Just before Christmas, on 19th December, the Tunnel handled its highest ever number of passengers and vehicles in a day.
These figures support the trend of the turnaround of the economy over the last two years. During this period we have seen the level of unemployment in Folkestone and Hythe cut in half; meaning in the average month around 1,000 more people are in work than at the height of the recession. Over eight out of ten of these jobs are full time jobs. New figures I have obtained from the government this week also show that in this constituency in 2014, 1,800 young people were working and learning as apprentices. This is an increase from just 800 working as apprentices in 2010.
We have seen considerable growth in the number of new and independent businesses establishing themselves; you can see the evidence of some of this activity in our high streets. Funds like the East Kent regional growth fund, and the Marsh Million fund have invested £millions to help local firms grow and take on new members of staff. The government has also confirmed to me this week that 33 local businesses have successfully applied to its Start-up Loans fund, drawing down a total of £123,350 in support. These loans are there to help start-ups invest in the equipment and materials they need to get their business going.
On Friday last week I met with Steve Rich at the Folkestone Sports Centre to present him with the ‘Points of Light’ award he received from the Prime Minister, David Cameron. The award recognises outstanding achievement in voluntary work. Steve Rich has established a highly popular and successful programme of walking football sessions for the over 50s. Steve has set up the Folkestone Wanderers walking football club, and in November last year created the first national tournament for this form of the game. This is a fantastic initiative and I wish him every success for the future with it.
