UK Tax Hike Threatens Eurostar Ticket Prices

UKs New Tax on Channel Tunnel Threatens to Hike Eurostar Ticket PricesThe UK governments proposed tax on the Channel Tunnel could lead to increased ticket prices for Eurostar passengers traveling between London and mainland Europe. Eurotunnel, the tunnels owner, will face a tripling of business rates, resulting in a seventy-five percent tax on new investments. This increase in costs is expected to be passed on to train operators, ultimately leading to more expensive fares for passengers. Eurostar, the main rail operator, opposes these plans, arguing they contradict the governments goal of promoting rail travel. The tax also threatens to cancel Eurotunnels plans to reopen an east London goods yard, as the company cannot afford to invest with such a high marginal tax rate.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.