This Is Money: Holidays abroad are back on but would you book one?

Holidays abroad are back on… or are they? The much-heralded green list proved to be something of a damp squib, with the only popular British holiday destination on there being Portugal. There was no place for Greece, France, Spain, Italy, the US, or other regular stars in the list of Britons’ favourite travel spots. Some rushed to book trips to Portugal, but travel giant Tui reported this week that holidaymakers are cancelling and delaying bookings and rival On The Beach scrapped all its summer holiday departures before the end of August. Concerns over Covid variants and worries about countries being rapidly pulled from the green list for travel are likely to prevent many from booking, but there is still a big desire from many vaccinated Britons to enjoy one their beloved trips abroad. So, will there be a surge of bookings, a last minute wait and see game, or a race to grab the few remaining staycation places during the summer holidays? Georgie Frost, Simon Lambert and Grace Gausden look at the state of play for the travel industry and holidaymakers – and how to protect your hard-earned cash if you do book. Highlighting the need to do just that, Grace explains why Teletext Holidays is under fire for still not refunding some customers for last year’s cancelled trips. Also, Simon runs through his anecdotal inflation theory and why trying to buy bikes or garden furniture, find a builder, or fill up a car tells a very different story to the official 1% inflation rate. He also explains why worries over higher inflation are causing markets to throw a wobbly. And finally, we all know about how the Bank of Mum and Dad has to fund many of their children when it comes to buying a home, but what if you need to help your parents buy a property? A reader asked if there is a potential tax trap – the team explain the answer.