8 February 2024
The Advantage Travel Partnership, Britain’s largest consortium of independent travel agents, together with its UK Outbound Travel Group partners, The Specialist Travel Association (AITO, www.aito.com), and The Association of Bonded Travel Organisers Trust (ABTOT), has submitted its policy requests to the Treasury ahead of the Spring Budget on 6th March.
The group has outlined the key policies which it believes are necessary to allow and ensure that the UK Outbound Travel industry continues to grow – and to contribute accordingly – to support and assist the growth of the UK economy, as follows:
- Business Rates: 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.
- Servicing Debt: The coronavirus pandemic saw leisure and business travel halted, meaning travel agents and tour operators were no longer making money – yet were still having to operate at full capacity to serve customers cancelling and/or changing bookings. Travel businesses could not, therefore, take advantage of the furlough scheme. 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 UK Outbound Travel Group, Julia Lo Bue-Said, CEO of The Advantage Travel Partnership, says: “With the impending General Election looming, this Spring Budget is set to be a significant moment for the incumbent Government, and will potentially have 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. The travel industry plays a significant role in the UK’s economy, so it is vital for the Government to show its support and to help these businesses to thrive and prosper, supporting UK SMEs to the maximum, going forward.”
