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.
Julia Lo Bue-Said, chief executive of Advantage Travel Partnership said: “Any measures that ease the financial strain on consumers, such as the energy freeze caps and tax cuts, is positive news for our industry as it will give consumers more disposable income.”
From April 2023, the government will reduce the basic rate of income…