Airports Fear £1bn Tax Hike, Warning of Higher Ticket Prices

Britains largest airports urge Chancellor Rachel Reeves to reconsider new property tax proposals, warning of a potential one billion pound impact. The airports fear a planned rise in business rates could hinder economic growth, halt expansion, and result in higher ticket prices for passengers. The proposed tax increase, due to a revaluation based on post-pandemic profit rebound, could jeopardize expansion plans the government has been advocating for. Meanwhile, the British Retail Consortium also warns against similar tax increases for shops, citing the risk of price rises and shop closures.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.