Business rates hike will mean higher flight prices and fewer holiday routes for British tourists, warns Gatwick boss
The boss of Gatwick has said a ‘very concerning’ rise in business rates could lead to higher prices and fewer holiday routes for British tourists.Business rates paid by airports are set to jump from £200million to £1billion following a review of how they are calculated by the Valuation Office Agency.For Gatwick, its annual £40million bill will increase to as much as £160million. Stewart Wingate, chief executive of the UK’s second-busiest airport, said: ‘Rates of this level will mean British airports are less competitive against other leading airports around the world and we risk routes and trade being lost, resulting in less choice for travellers and the sectors that rely on us to run their businesses.’ Warning: Gatwick boss Stewart Wingate said a business rates hike will mean British airports are less competitive against other leading airports around the world DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Business rates hike will mean higher flight prices and fewer holiday routes for British tourists, warns Gatwick boss
