The submit More government support needed to support travel: ABTA appeared first on TD (Travel Daily Media) Travel Daily.
ABTA has stated the government’s power reduction scheme will assist to take the strain off companies coping with rising power payments however urged the Chancellor to present additional support by Friday’s mini-Budget.
Mark Tanzer, chief government of ABTA – The Travel Association stated: “The support laid out by government as we speak will assist to take the strain off journey companies coping with rising power payments, and it’s good to see that this assist can be in place for all companies for a six-month interval.
“When finishing up its three-month assessment, government should keep in mind the affect of the COVID-19 pandemic when contemplating sectors for additional support, and that companies have been coping with rising prices for a lot of months now.
“Travel solely re-opened in March 2022, so the sector’s restoration is furthest behind another trade. Many companies took on debt to get by the pandemic, which is now falling due for compensation. These are government-backed loans, so it’s within the government’s – and in the end the taxpayer’s – curiosity to guarantee journey companies are helped and eligible for the complete support.
“The Chancellor has the chance to use Friday’s mini-Budget to present additional support, for instance by extending enterprise charges support past the top of the present monetary yr and dealing with the British Business Bank to give companies extra headroom with the compensation of loans taken on through the COVID-19 disaster.
“ABTA will be working to represent the needs of the sector to government over the coming months and in the run up to the three-month review.”
The submit More government support needed to support travel: ABTA appeared first on Travel Daily.