A potential rise in costs for family vacations due to a proposed “visitor levy” has raised concerns among small businesses in the tourism sector. The Labour party is suggesting that regional mayors in England could implement this levy on overnight stays, similar to systems in some European countries. The specifics of the levy, whether a per person fee or a percentage of the total stay cost, are yet to be determined.

Critics argue that for a family of four on a two-week summer holiday, the levy could inflate expenses by over £100. In extreme cases, a family of six vacationing in May for four nights in Blackpool at £49 might see their costs nearly double to £97. The UKHospitality trade body has sent a joint letter signed by 200 businesses to Chancellor Rachel Reeves, highlighting the potential negative impact of this levy on the industry.

In other news, research from Zoopla has unveiled the most affordable property hotspots in the UK, with Sunderland leading as the most cost-effective city. Monthly mortgage payments in Sunderland average £408, representing 17% of the typical monthly salary. Havering in London and Aberdeen in Scotland were also identified as affordable areas for property buyers.

Greene King has announced plans to open 30 new franchise pubs this year, expanding its operations into new regions. The company recently reached a milestone of 100 franchise Hive and Nest concept pubs. Additionally, mortgage arrears in the UK have decreased, with fewer homeowners falling behind on repayments despite economic challenges.

The FTSE 100 index has hit a new record high, providing positive news for pension savers and investors. Notably, Schroders experienced a significant increase following a takeover agreement with US investment firm Nuveen. Meanwhile, Côte Brasserie has introduced a special half-term offer for kids, joining a list of chains providing discounts during the school break.

Marks & Spencer has been recognized as Britain’s top in-store supermarket for customer satisfaction in a recent survey by Which?, while Tesco and Waitrose also received high ratings. On the economic front, the UK economy grew by 0.1% in the final quarter of last year, slightly below expert predictions. Chancellor Rachel Reeves emphasized the government’s economic plan aimed at strengthening the economy and promoting growth across the country.