Ahead of this month’s Budget, businesses are lobbying the chancellor for changes to the business rates system, while there are claims Heathrow is trying to drive through a massive hike in landing fees.

Here are the key headlines concerning travel on Thursday 14 October.

Interest rate rise threat adds to fuel bill concern

There is speculation the Bank of England will raise interest rates to 0.25% in December to curb inflation. Experts also tip rates to hit 0.75% by late 2022, a return to pre-pandemic levels. This would mean an extra £65 a month on a variable £200,000 mortgage. (The Telegraph) 

Call to cut business rates in autumn Budget

Employers’ groups representing more than a quarter of jobs in Britain have called on Rishi Sunak to cut business rates in the Budget on 27 October. In a joint statement ahead of the chancellor’s post-lockdown budget, the Confederation of British Industry and 41 other trade groups demand changes to the system, which taxes companies based on the premises they occupy. (The Guardian)

Airlines’ anger over plan for massive Heathrow fees hike

Heathrow plans to almost double its landing fees to make up losses built up during the pandemic. It is in discussions with airlines over raising fees from £19.36 per passenger to £37.63. The airport said its proposal would add only 4% to the overall cost of an average ticket, adding it had been lowering its charges before the crisis struck. (Financial Times)

‘The Last Ice Area’ now half the size of 40 years ago

New research has estimated that summer sea ice in the region north of Greenland and the Canadian Arctic is half the size it was in the 1980s. Scientists say climate change means the area will be “dramatically thin” by 2050, affecting polar bears and other wildlife. (The Daily Mail)