|ABTA responds to Chancellor’s Growth Plan
ABTA – The Travel Association has responded to the Government’s Growth Plan.
Luke Petherbridge, Director of Public Affairs at ABTA – The Travel Association said:
“Today’s announcement is the first indication we’ve had from the new Government about their plans for the economy and public finances
“This is a Government focused on growth, which outbound travel businesses have a strong track record in delivering when supported by the right tax and policy framework.
“The plan does include some savings for business, such as the reversal of the 1.25% rise in National Insurance contributions, which was due in April 2023, and cancellation of the planned rise in corporation tax, and comes on the back of help outlined in the Energy Bill Relief Scheme which was announced on Wednesday.
“However, the Government could have gone much further with plans to support businesses beyond the current financial year, which would have benefited our Members. We strongly urge the Government to take the opportunity to use the full Budget statement to extend business rates relief support beyond April 2023, and to look at how Government could work with the banks to ease the pressure of COVID loan repayments.
“We’ll also be working to make the case to Government that the support with energy bills needs to be available to travel businesses beyond the initial six-month period, especially given travel restrictions were only removed in March 2022, and the industry is behind other sectors in terms of its recovery.”