Shai Weiss, chief executive officer of Virgin Atlantic Airways Ltd., on day two of the Farnborough International Airshow in Farnborough, UK, on Tuesday, July 23, 2024.
LONDON – Virgin Atlantic CEO Shai Weiss on Monday said the U.K. Labour government's landmark October budget presented a "tax on growth" due to higher rates placed on the aviation industry.
"I would call [the Budget] a tax on growth," Weiss said Monday, adding that while it was necessary to cover Britain's budget deficit, it was also important to recognize the contribution of aviation to the wider U.K. economy.
For journeys between 2,001 and 5,500 miles, APD will rise to £102 from £90 in economy and to £244 from £216 in other classes.
CNBC has contacted the U.K. Treasury for comment.
Persons:
Shai Weiss, Monday, Weiss, Louise Haigh, Rachel Reeves, Rain Newton, Smith, Bill
Organizations:
Virgin Atlantic Airways Ltd, LONDON, Virgin Atlantic, Labour government's, Labour, Conservative, Air Passenger, Treasury, Aviation, . Transport, Finance, of British Industry, National Insurance, CNBC
Locations:
Farnborough, London