New chancellor Kwasi Kwarteng has made a range of sweeping tax cuts and other changes in his “mini budget” on Friday (23 September) but how will they affect the travel industry?
Tax cuts should increase consumers’ disposable income
By reversing April’s 1.25% increase in National Insurance payments from 6 November, consumers should have more money in their pockets to spend on holidays ahead of the peaks booking season at the turn of the year. The recently announced cap on household energy costs should also help to give consumers more confidence about their finances.
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