Julia Lo Bue-Said, CEO of The Advantage Travel Partnership, said: “For small businesses that are continuing to try and trade their way out of the recent pandemic, today’s budget will be both underwhelming and disappointing. Businesses of any size, but especially SMEs, want to trade out of the economic crisis, securing investments, creating jobs and contributing to fiscal prosperity, with a focus on business growth.
“Any measures, such as personal tax increases on working people will have a detrimental impact on consumer’s disposable income, which in turn will have a further direct impact on the travel industry, especially at a time when covid hangover remains and businesses are struggling to recover. The business rates reform lacks detail, and the increases in the national living wage and energy costs will all have a direct impact to business costs at such a challenging time.
“The UK’s outbound travel industry is one of the most competitive in the world and will always strive to deliver the best value it can to ensure that consumers get to enjoy their much-treasured holidays booked through their local travel agent. However, whilst the demand for travel remains high, many families are already having to weigh up how to make ends meet.”
