‘Don't leave travel behind,’ industry urges chancellor ahead of spring Budget
Gary NoakesSupport for travel businesses struggling to pay back Covid loans plus a reduction in rates have been requested in a submission to the Treasury ahead of the Budget.
The UK Outbound Travel Group, made up of Advantage Travel Partnership, Aito and The Association of Bonded Travel Organisers Trust (Abtot), has submitted requests ahead of the Budget on 6 March. The Group represents some 700 independent agents and more than 570 independent and specialist tour operators.
It said it was “of paramount importance that the UK government recognises the contribution that the outbound industry makes to the national economy”.
The submission said business rates were a key issue. “With the overall tax burden on course to rise to the highest level for decades, we jointly believe that the government should reduce business rates.
“This will ensure that the travel businesses – which suffered more than any other sector during the pandemic – can finally recover and, once again, contribute to growing the economy in the long term.”
Debt was another issue for the sector, the Treasury was told, with many businesses having to continue working during Covid to amend bookings and unable to claim furlough.
“Many were forced to use their own capital reserves to keep their operations above water, along with Cbils loans.
“We are calling for financial support for business owners in the travel sector who are still struggling to pay back loans taken out during the pandemic, so that these businesses may recover and thrive once again.”
Speaking on behalf of the group, Julia Lo Bue-Said, Advantage chief executive, said: “With the impending general election looming, this spring Budget is set to be a significant moment for the incumbent government, and will have potentially far-reaching effects.
“It is imperative that the UK’s outbound travel sector is not left behind and remains at the forefront of minds for those key decision makers in Westminster.
“The UK outbound travel sector has fought valiantly throughout the chaos of the pandemic and its lingering effects over the past few years, but there is still much work to be done.”
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