Consumers will be more than £500 better off this year, on average, the chancellor has said in a Spring Statement that otherwise featured little else of specific interest to the travel industry beyond the more significant fiscal reforms outlined in last year’s Budget.
The chancellor, Rachel Reeves, has given an update on the nation's finances (Credit: UK House of Commons / X/Twitter)
Chancellor Rachel Reeves on Wednesday (26 March) told parliament “real household disposable income will be almost twice that forecast” in the October Budget, which could go towards spending on non-essentials, like travel.
She added the independent Office for Budget Responsibility (OBR) had concluded "people will on average be over £500 a year better off." "That will mean more money in the pockets of working people," said the chancellor.
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