Six months on from the Budget, it’s time to count the cost of changes to National Insurance (NI), minimum wage and other aspects of running a travel business. The government outlined them in October, but reality hits on Sunday (6 April) when they take effect.
Many of the changes outlined in the Budget took effect on Sunday (Credit: iStock / Dragon Claws)
At its most extreme, Jet2.com and Jet2holidays has said the increases to NI and National Living Wage will cost £25 million. But with a projected profit of £560-£570 million, it can easily absorb this.
Others won’t find it so painless; The Travel Network Group estimates the average agency will have to sell seven extra holidays to fund an additional £2,000 in minimum wage, NI and pension contributions.
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