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Did the 'mini-Budget' kill travel's hopes of a normal peaks?

Atol
Gary Noakes
1 November 2022

The success of January peaks will largely depend on how this month’s Autumn Statement revives consumer confidence, a TTG Agenda 22 panel agreed, with the industry looking for calm and reassurance after the "mini-Budget" debacle that cost Liz Truss her premiership and Kwasi Kwarteng his role as chancellor.

(Credit: iStock)

Travel Trade Consultancy director Simon Brodie said with September’s Atol renewals coinciding with multiple changes of prime minister and transport secretary, the assumptions that underpinned the forecasts used by travel businesses to obtain their Atols “now look woefully out of date”.

"It makes it very difficult for our clients to really plan what the future looks like," said Brodie, who added that despite “tangible optimism”, the data suggested an ongoing need for caution – leading him to warn travel’s recovery "may stall" as a result.