ABTA’s impact: Chancellor takes steps to extend business rates relief and broaden youth mobility opportunities

Saturday, November 25, 2023

The Chancellor delivered the Autumn Statement yesterday. The Chancellor addressed their submission to the Treasury in October, emphasizing the need for business rates relief extension and the expansion of youth mobility schemes. The government’s response, as outlined in the Autumn Statement, reflects a positive outcome, particularly with the extension of business rates support for travel agents.

The ongoing support provided by the government, particularly in addressing large debt repayments, acknowledges the continued impact of the pandemic on businesses. The emphasis on economic growth in the Chancellor’s statement aligns with the travel industry’s aspirations not only for recovery but also for future expansion.

According to ABTA’s research, the travel industry is poised to surpass the general economy in growth, with outbound travel projected to increase by 15% by 2027 compared to 2019 levels. To fully unlock this potential, collaboration between the government and the sector is essential for establishing an effective policy framework. The government’s consideration of extending youth mobility schemes is a positive step, and it is crucial that such initiatives include agreements with European countries. This reflects the need for innovative approaches to skills and recruitment in the industry.

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