Early commentary on Chancellor Rachel Reeves’s budget
Whilst the full details are still to be reviewed, here is Focus Travel Partnership MD, Paul Spencer’s, early commentary on Chancellor Rachel Reeves’s budget announcement today.
“Air Passenger Duty still to rise to 6.5% by 2030, a new mileage-based charge on electric cars, a pre-budget announcement of the freezing of Rail Fares (and some investment in regional rail infrastructure including Northern Powerhouse Rail), changes intended to end a VAT tax break for ride-hailing companies, and a host of changes to investment and taxes that will impact TMC owners and entrepreneurs (both in terms of incentives as well as their general tax burden).
Pleasing to see ‘youth guarantee’ fully funded SME apprenticeships for under 25s which may help attract Gen Z to our industry, however it is another “smorgasbord” (if not exactly “of misery” as the Opposition claims) and will be considered either “good” or “bad” depending on your personal income, pension and savings profile. Hard to say what the markets will do once they calm down after the initial unfortunate release of the OBR report- but business travellers will still travel, if maintaining their focus on ways to reduce cost, although leisure travellers may be reviewing their 2026 family spending plans.”
About Focus Travel Partnership
Focus Travel Partnership is the leading UK business travel consortium for the independent and SME sector and represents 48 TMC Partners with a total turnover of over £1.3 billion. Focus leverages the latest technology platforms and a comprehensive range of services to support its TMC Partners, enabling them to future-proof their businesses. The collective size and buying power of the partnership, along with its long-established industry leading corporate air programme, enables Focus to negotiate the best possible deals with suppliers across all sectors. The continued growth and strength of the partnership through TMC Partner membership, supplier base, and buy-in from all major global airlines, is currently unmatched by any other UK consortium. For more information, please visit https://focustravel.uk/
For further media information please contact: Joanne Emerson / e: JoanneE@Focustravel.uk / t: 0203 978 4942