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19-06-2010, 11:52 AM #1
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Airport Tax Increase to add £300 to cost of Florida Holiday
Families taking foreign holidays face ticket price hikes in the wake of the most hard-hitting Budget package for almost 30 years.
Airport departure levies will go up from November - increasing the tax bill for a family of four on a long-haul flight to £300.
And after that date, a new 'per plane' levy, which could raise costs still higher, will be implemented.
The shift to an 'environmentally friendly' duty, meaning that airlines will be taxed for each flight rather than for passengers, is expected to be signalled in Chancellor George Osborne's emergency Budget on Tuesday.
The wide-ranging package will impact almost every taxpayer in the land.
Government sources say it will be the most radical Budget since Geoffrey Howe defied conventional economic wisdom by deflating the economy at a time of recession in 1981.
Families are expected to be left an average of £1,000 a year worse off because of a combination of tax rises and spending cuts as Mr Osborne starts work on reining in the unprecedented budget deficit left behind by Labour.
Other key measures on the table include:
* Cuts and freezes to key benefits to save £4billion-£5billion a year.
* A hike in capital gains tax, but with 'generous' exemptions for savers and entrepreneurs.
* Corporation tax cuts to boost the private sector as the public sector is slashed.
* A possible 'small' VAT hike, which could be delayed until next year.
* An increase in the income tax threshold to save lower and middle earners around £200 a year and encourage benefit claimants into work.
* Savage cuts to Labour's child tax credits, costing two million families as much as £545 a year.
* A doubling in tax on household insurance premiums to 10 per cent.
The initial assessment of the new independent economic watchdog, the Office for Budget Responsibility, has set the scene for a 'painful' Budget.
The Chancellor is expected to announce more than £30billion in combined tax increases and public spending cuts. He will stick as closely as he can to an 80:20 split between public spending cuts and tax rises.
Read more: £300 tax on your family's holiday: Airport charges set to soar in the hardest-hitting Budget in 30 years | Mail Online
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