Making travel’s priorities known to the Treasury ahead of the Budget
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gwilkinson@abt… Thu, 09/19/2024 - 11:09
Next month the new Government’s fiscal plans for the nation will be revealed in its first Budget since taking office. As with any Budget, ABTA has been making representations to Government on behalf of members and the wider industry.
In my recent letter to the Treasury, I highlighted the value travel brings to the UK economy, citing ABTA’s data that outbound travel alone is worth more than £49bn in GVA each year and supports more than 843,000 jobs.
The new Government has been very clear that it is focused on economic growth and so, as part of our submission to the Chancellor, I stressed travel’s role as a driver for growth. ABTA research shows the travel sector predicted to grow by 15% by 2027 against 2019 levels, which compares favourably with predicted growth across the wider economy. But our industry will only be able to achieve this growth with the right tax and policy framework in place, including ensuring the UK’s aviation price competitiveness.
Among the other policy developments we would like to see for our sector, a priority is investing to ensure that the UK is a leader in sustainable travel . Our message to Government is that we need to accelerate the journey to decarbonisation, and it will take a partnership between Government and industry to do that, recognising that people do not want to be priced out of travelling as a result - and nor should they be.
We are also continuing to press for business rates reform, which was in Labour’s manifesto. ABTA believes a redesigned rates system will encourage and support those businesses based on the high street, many of which are currently at disadvantage when it comes to business rates, whilst also avoiding any duplication of taxation for businesses that operate both online and offline.
As well as liaising with Government ahead of the Budget, we’re also involved in a busy engagement programme – meeting MPs and attending the Liberal Democrat, Labour and Conservative party conferences. You can find out more about our MP engagement in Luke Petherbridge’s column in Travel Weekly.
Continue reading...
Full Page image
gwilkinson@abt… Thu, 09/19/2024 - 11:09
Next month the new Government’s fiscal plans for the nation will be revealed in its first Budget since taking office. As with any Budget, ABTA has been making representations to Government on behalf of members and the wider industry.
In my recent letter to the Treasury, I highlighted the value travel brings to the UK economy, citing ABTA’s data that outbound travel alone is worth more than £49bn in GVA each year and supports more than 843,000 jobs.
The new Government has been very clear that it is focused on economic growth and so, as part of our submission to the Chancellor, I stressed travel’s role as a driver for growth. ABTA research shows the travel sector predicted to grow by 15% by 2027 against 2019 levels, which compares favourably with predicted growth across the wider economy. But our industry will only be able to achieve this growth with the right tax and policy framework in place, including ensuring the UK’s aviation price competitiveness.
Among the other policy developments we would like to see for our sector, a priority is investing to ensure that the UK is a leader in sustainable travel . Our message to Government is that we need to accelerate the journey to decarbonisation, and it will take a partnership between Government and industry to do that, recognising that people do not want to be priced out of travelling as a result - and nor should they be.
We are also continuing to press for business rates reform, which was in Labour’s manifesto. ABTA believes a redesigned rates system will encourage and support those businesses based on the high street, many of which are currently at disadvantage when it comes to business rates, whilst also avoiding any duplication of taxation for businesses that operate both online and offline.
As well as liaising with Government ahead of the Budget, we’re also involved in a busy engagement programme – meeting MPs and attending the Liberal Democrat, Labour and Conservative party conferences. You can find out more about our MP engagement in Luke Petherbridge’s column in Travel Weekly.
Continue reading...
