Holiday price hikes, car insurance and inheritance tax

The pound has been in the doldrums this week, and is trading near a one-month low today. Traders are betting on further monetary easing from the Bank of England. According to The Guardian, sterling has fallen nearly 3 per cent since the Bank unveiled a bigger-than-expected stimulus package last week and dropped to $1.2952 this morning, after hitting a one-month low of $1.2936 yesterday. Holiday costs Holidaymakers have been warned that the cost of their summer breaks will rise next year because of the recent fall in the pound, the Daily Mail reports.

Travel giant Tui, which owns Thomson and First Choice, warned British holidaymakers that because a number of its reservations are made a year in advance and paid for in euros by the operator, this would have an impact on this year.

While the tour operator said 60 per cent of the holidays it sells in the UK are packages paid for in pounds, it secures its hotels and airlines with euros and since the referendum the value of sterling against the euro has fallen 9 per cent.