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Budget 2024: everything agents need to know

Luxury
Gary Noakes
7 March 2024

An increase in Air Passenger Duty (APD) for business class passengers and a cut in National Insurance are among the key takeaways for the travel industry from the government’s spring Budget.

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Jeremy Hunt delivered the 2024 Budget on Wednesday (Credit: @Jeremy_Hunt / X / HM Treasury)

Chancellor Jeremy Hunt did not specify the rate of APD increase, but told the Commons it would fall “on non-economy” ticket sales “to accommodate for high inflation in recent years”.

Treasury documents do not specify the increase, but say it will raise an extra £110 million next year (2025/26), plus a further £10 million a year for each year after that through to 2028/29.

The Treasury said: “The 2025/26 APD rates for economy passengers will increase in line with forecast RPI [Retail Price Index], rounded to the nearest pound.