NEWS

Air travel tax could rise

Chancellor Jeremy Hunt could raise revenue on Air Passenger Duty (APD) in the Spring Budget, reports suggest.

Reports have hinted that the Chancellor is considering a range of options that would permit him to make billions of pounds of personal tax cuts. One of these options is to increase APD for business travel, which would mean a rise in business class air fares.

Mr Hunt is also said to be considering a tax on vapes and abolishing the non-dom tax status.

Commenting on the upcoming Budget, Mr Hunt stated: ‘It is going to be a prudent and responsible Budget for long-term growth.

‘When it comes to tax cuts, I do believe that if you look around the world, countries with lower tax tend to grow faster - North America, Asia - and so I do think in the long run we need to move back to being a lower taxed, more lightly regulated economy.

‘It would be deeply unconservative to cut taxes in a way that increased borrowing, wasn't fully funded.’

06/03/2024