Cheap flights from low cost airlines operating out of the UK and other European countries could be under threat as the Conservative Party - once a campaigner and implementer of lower taxes - has called for purchase tax to be introduced to domestic flights.

The tax would add up to 17.5 per cent on to the cost of a flight from one British city to another, but while flights to the European mainland and popular holiday islands such as Menorca aren’t specifically mentioned, one travel company believes the new policy will inevitably lead to higher fares for flights not just within Britain, but elsewhere too.

The Tory policy review calls for the UK to be a leader on green growth, noting that it was illogical for flights to attract less tax than cars and trains, with David Cameron, the Tory Party leader, saying that much of the report would be included in their manifesto at the next British General Election, which could be up to two years away, but at the time could have been just weeks away as Prime Minister Gordon Brown considered an early poll.

‘It’s not so much that we’re convinced the Tories will win the next election and tax domestic flights’, say the travel company, ‘But by proposing new taxes on flights it leads the door open to the Labour Party, who are more likely to win, to use taxes on flights as a revenue raiser with no opposition from the Tories who are traditionally seen as the tax cutting party. We have no doubt that flights will be taxed a lot more in 2008 because the Tories have now made it a soft target for the British government of any political persuasion and the Treasury when they prepare their annual budgets.’

Menorca
Citing Menorca as an example, the company points to the holiday industry on the island being a major employer, and the Menorca map changing over the years as new resorts have been built to accommodate additional visitors.

‘One of the other aspects of the report that is a worry for the holiday industry’, continues the travel company, ‘Is that new runways at Stansted, Gatwick and Heathrow Airports are all ruled out - all three airports serve London and the South-East of England. Any increased demand for example for Menorca holidays probably won’t be able to be met without increased capacity, inevitably leading to a consequence of higher prices overall.’

From the environmental lobby the Green Party described the proposals as ‘fiddling around the edges when what is needed is urgent and radical action’, adding that the Tory eco-taxes would hit the poorest in society hardest.

Citing Menorca as typical of the areas that could be affected most by additional flight taxes, the travel company takes the view that any downturn in visitor numbers and the volume of bookings for holidays and hotels in Menorca would hit an island that relies heavily on tourism.

The Spanish island is currently served by three UK airlines that offer scheduled flights, including one low cost carrier that offers cheap Menorca flights. But there are a high number of holiday companies who offer chartered flights in the summer months, and these companies have helped reduced prices for holidaymakers visiting the island. Neighbouring island Majorca attracted most UK tourists for 2007, beating off competition from low cost destinations in Eastern Europe, and Menorca has also benefitted from an increase in visitor numbers.

Read the rest of this entry »

Monaco and Andorra - Europe’s top two tax havens - are seeing an influx of funds to their banks, despite governments worldwide actively trying to stop their citizens using tax havens to bank their money.

The financial industry in Monaco is attracting money from wealthy individuals seeking a degree of privacy, and keeping their assets away from the clutches of their governments at record levels with most of the money coming from the Middle East and Europe.

While the banks will not disclose the volume of money they have attracted recently, some industry analysts estimate it could be as much as 20 billion Euros over the last eighteen months, with 70 billion in total managed assets overall.

Over the last year and a half some of the big names in the banking and finance industries have set up offices in Monaco, including Goldman Sachs. And Monaco does not seem perturbed by outside influence unduly as the principality hopes to double the amount in her banks in the coming years.

And it’s not just Monaco attracting funds - Europe’s other tax haven Andorra has also seen an increase in interest, with new accounts in being established at the Andorra banks at a good pace. With tax havens attracting high volumes of funds it makes them less likely to co-operate with the OECD, who ultimately try to reign in and police money worldwide.

One company who specialise in European tax havens thinks that the OECD are wrong to assume that the money being deposited in Andorra and Monaco banks is by people simply wanting to keep their money offshore - it’s also due to high net worth individuals taking Monaco and Andorra residency.

‘The number of people who have moved themselves as well as their money offshore has been rising over the last ten years, and in particular the number of UK ctizens moving to Andorra and Monaco has been high in the last two to three years, and their combined assets are significant. Taxes in the UK for example have been increasing, and it’s no coincidence that while this has been happening so have the number of Britons moving out of the country. Rather than trying to dissuade people from doing so by painting tax havens as the villains they would get better results if they reduced direct and indirect taxes at home, negating the need to consider a tax haven in the first place.’

Evidence of the rising number of arrivals in Monaco for her tax haven status is the local property market, which is on a par with London as the most expensive property in Europe. And recent economic activity in Monaco includes the sale of one of the well known Monaco hotels - the Fairmont - showing that Monaco is able to attract investment not just from the financial services industry.

Particularly notable among the new arrivals in Monaco in recent years has been the British, with some Monaco real estate agents suggesting that around forty per cent of their enquiries now come from the UK.

The top rate of tax in the UK has been 40 per cent for some years now, but an increase in the number of indirect taxes - or stealth taxes as they are popularly known - often means a tax take of over 50 per cent for high earners.

Apart from the rise in the number of people moving to tax havens recently, the company also points to infrastructure improvements in both Andorra and Monaco as evidence that governments who levy taxes shouldn’t assume that tax havens are ghost towns for much of the year with tax exiles only making fleeting visits for events like the Monaco F1 run each May in Monaco.

Read the rest of this entry »

Low lying European ski countries last year who saw a decline in ski holiday visitors, including Andorra, have been investing in her facilities to try and tempt the skiiers she lost back for the 2008 season.

In the past Andorra has grown in stature from a destination offering cheap ski holidays to one that can compete with the best that Europe has to offer, with a growing number of ski holidays being taken in the country over the last decade to the point where it was attracting some ten million tourists a year.

But unexpectedly the rise in visitors to Andorra came to a screeching halt for the 2006/7 ski season, and the ski slopes closed two weeks earlier than anticipated due to a lack of snow that saw many other resorts in Europe, especially in countries with low lying slopes like Austria, badly affected by the lack of natural snow.

The Andorra economy is unusually reliant on the ski holidays industry, the other main activity being the financial and banking industry due to her tax haven status, and the Andorra weather refused to play her part last year. Some estimates suggest takings for supermarkets, petrol stations, department stores and supermarkets were down some 40 per cent compared to 2006 in the main ski holiday areas.

The good news for the Andorra ski holiday industry as it hopes for an improved 2008 holidays season is that the snow - notably absent last year - started to fall in November, and long range weather forecasts suggest that January through to April could see enough snow to give Andorra skiiers good snow depth, and little if any need for snow cannons to make up any shortfall.

But the tourist authorities are determined not to be caught out again, and continue with the progress made in the last twenty years that has seen Andorra rise impressively from a cheap ski holiday destination to one that caters for the middle and upmarket price range with UK ski holiday specialist companies like Crystal Ski offering a full range of holidays in Andorra.

Private money as well as finance from the banks in Andorra have helped to upgrade Soldeu, a main Andorra ski holiday resort, to a high class status with new hotels and upgrades for existing ones.

New Investment
In total it is estimated that nearly 200 million Euros has been invested in Andorra’s on-mountain ski facilities, and the figure rises significantly when off-mountain spending is taken into account, such as the new hotels in Andorra, notably in the top ski areas of Soldeu and Arinsal.

The ski areas of Andorra have been praised by many in the industry for having the capability of producing enough man made snow to cover over 40 per cent of the ski domain, but investment has continued to further this already high amount by having for the 2008 ski holiday season over a thousand snow cannons in place - although it is hoped they don’t have to be used much.

Read the rest of this entry »

In a nutshell, going on a vacation to a foreign country is expensive. You not only have to worry about the plane ticket and hotel accommodations; you also have to think about your shopping budget. One great way to save on your spending while vacationing in Dubai is by choosing lodgings that are more affordable.

Dubai Hotel Apartments is a great choice not only for your family, but also for groups of businesspeople who do not mind sharing a loft. If you’re looking for a self catering apartments in Dubai, check out dubaiapartments.biz for a list of accommodations. You can compare rates, amenities and facilities that these places offer to their guests. If you look at their images on the website, you’ll see that these apartments are fully furnished and spacious enough for groups of 3 or 4 people. Most of these lodgings have 2 to 3 bedrooms, a small kitchenette where you can cook your own meals, a living room area for guests and small parties, as well as private bathrooms. Another option for short term housing includes villas; Dubai is abundant with these types of accommodations. Apartments and Dubai villas offer first rate services such as housekeeping and maid service. Most of these rental places have satellite TV and internet connection on top of the great view of the city. These places are easily located in the middle of the busy city district.

Read the rest of this entry »

If you, one of your friends or any of your family members, are planning an adventure in Helsinki, Finland, we suggest you start reading on information about the city. There are a lot of websites dedicated to travel and tourism, but none compare to Helsinkitravelguide.com.

This site is all about Helsinki; entertainment venues, dining options, tourist destinations and lodging information can be found with the click of the mouse. The image galleries showcase the diversified locals and tourist hotspots so you’ll have a better view of what really goes on in Helsinki.

Read the rest of this entry »

The hardest part about starting a manufacturing company is the branding of products to make it more suitable for exposure and distribution into the market. There’s one company that I recommend to help you with this task, AdcentivesWest.com.

For more than 30 years, they have been in the business of helping out companies with marketing schemes and recently introduced their corporate internet branding service. Going global was the next step for Utah’s premiere marketing and advertising company. Their promotional products, consultancy services and online stores have gained quite a following among the top corporations across the country. More information about Adcentiveswest.com can be found at their website.

We all have dreams of automating our income with a few hours of work everyday. With enough perseverance, some basic knowledge on how to start, you can make money working online today. But of course, the hardest part is learning. That’s why Successwithauctions.com is such an awesome site.

The website features articles on how to make money at home with blogging, auctions, affiliate programs and other online businesses. All your apprehensions, questions and concerns will be answered through the articles that are provided on their website. Access is free so there’s no need to stall the learning process. Start realizing your dreams today.

Based on past experiences, getting a quote for Personal Loans has been hellish. Not only do I have to wait until someone picks up my application form, I have to explain how I’m going to spend the money and pay for the loan with my meager salary. With online lending agencies coming to the rescue, the need to face your loans agent is entirely disappeared.

It’s actually embarrassing to have your loans application be declined because you don’t have a good credit rating or your credit history is less than perfect. Loansubmit.co.uk took that away with their online loan enquiry. In less than a few hours, you’ll receive a notice of the application’s approval or rejection. The whole process done behind the safety of your monitor.

Although it’s highly unlikely that your home will be burglarized or that your car will be set on fire – the risk is still there. Are you willing to leave yourself out in the open? Protect yourself, your family and your properties by getting Insurance today. Don’t know where to start? Let Thriftyscot.com lead you to the right path.

Thriftyscot’s money saving advice and financial tips are exactly what you need to figure out what kinds of Car Insurance you need. Their Home Insurance plans will surely let you sleep more soundly at night. More information on how your life can be so much better can be found at their website.

If you want to know what’s happening around the Orlando area, including festivities and public functions, sites like windsorpalmsflorida.com provide you with quick insider information, and the best means of enjoying a planned vacation trip.

The site offers accommodation opportunities, whether for an intimate family getaway or an annual family reunion. Visit windsorpalmsflorida.com and you will be taken on an online browse-through of Reunion Resort, a multifunction compound complete with three signature golf courses and activity areas. Accommodations are not a problem since the site also offers a selection of available and affordable options with Orlando Vacation Homes. This site is truly useful if you are planning on a quick retreat in the Orlando area.