'It's the worst year we have ever had' says Medway retailer as businesses react to Chancellor's budget

We spoke to Red Menswear in Chatham

A boarded up shop on Chatham High Street
Author: Josh BaileyPublished 31st Oct 2024

A Medway retailer - that has been on Chatham's high street for 25 years - has told us it is the worse year they have ever had.

Red Menswear is the largest independent menswear fashion store in the south-east and has been open since 1999. However the owner Martin claims high street businesses are not being supported with it being tougher than ever to stay open.

He said: "I'm not alone in these challenges, if you ask anyone who owns a store, most of those would shake their head in disbelief as the hurdles we are asked to jump over as insurmountable but we are here to conquer so we sill try.

Red Menswear in Chatham

"Purely because we on the high street we pay a premium, but we are not getting to the benefits of a busy high street, you have to focus on the reason to come to Chatham and there just isn't one and this is the case for place such as Canterbury or Maidstone.

"The government needs to look at the situation and encourage people to visit such as free parking, which isn't even an option, local government just has their handout for any money they can get which in my views suppresses business, rather than encourage it."

It follows yesterdays budget where the chancellor announced two permanently lower tax rates from 2026 as well as promising to reform business rates from next year.

For now, Rachael Reeves, extended the relief scheme, lowering it from 75% to 40%