Chancellor acts on ABTA’s call to extend business rates relief and expand youth mobility
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dhewitt@abta.co.uk Thu, 11/23/2023 - 08:45
Yesterday the Chancellor delivered his Autumn Statement.
In our submission to the Treasury in October, about the Autumn Statement, we called for the extension of business rates relief support for travel agents, and urged the government to consider expanding youth mobility schemes to drive growth.
It’s encouraging that the government has listened to our calls in these areas.
The extension of business rates support will benefit many travel agents.
Many businesses still see the impact of the pandemic on their balance sheet as they face large debt repayments. This continued support will help companies as they continue to recover.
But travel isn’t just focused on recovery, it is also looking to grow, which is why it was encouraging to see the Chancellor pitch this statement as a plan to get the economy growing.
ABTA’s research shows the travel industry’s growth is set to outpace the general economy – with outbound travel due to grow by 15% by 2027, compared with 2019 levels. However, to realise that potential requires government to work in partnership with the sector to put in place the right policy framework.
That will also require fresh thinking around skills and recruitment, so we very much welcome that the government says it is looking at extending youth mobility schemes. It’s important this includes agreements with European countries too.
Mark Tanzer, Chief Executive
Continue reading...
Full Page image
dhewitt@abta.co.uk Thu, 11/23/2023 - 08:45
Yesterday the Chancellor delivered his Autumn Statement.
In our submission to the Treasury in October, about the Autumn Statement, we called for the extension of business rates relief support for travel agents, and urged the government to consider expanding youth mobility schemes to drive growth.
It’s encouraging that the government has listened to our calls in these areas.
The extension of business rates support will benefit many travel agents.
Many businesses still see the impact of the pandemic on their balance sheet as they face large debt repayments. This continued support will help companies as they continue to recover.
But travel isn’t just focused on recovery, it is also looking to grow, which is why it was encouraging to see the Chancellor pitch this statement as a plan to get the economy growing.
ABTA’s research shows the travel industry’s growth is set to outpace the general economy – with outbound travel due to grow by 15% by 2027, compared with 2019 levels. However, to realise that potential requires government to work in partnership with the sector to put in place the right policy framework.
That will also require fresh thinking around skills and recruitment, so we very much welcome that the government says it is looking at extending youth mobility schemes. It’s important this includes agreements with European countries too.
Mark Tanzer, Chief Executive
Continue reading...
