Half-term holiday hikes adding to debt woe?

Increases in the costs of holidays scheduled for the half-term break could exacerbate the debt concerns of parents this week, new research has indicated.

A study by Santander Cards has shown families planning a late October getaway are likely to face hugely inflated holiday premiums.

The group looked at five autumn sun destinations in the run up to the school break – Lanzarote, Florida, Sharm el Sheikh, Crete and Gran Canaria.

It discovered for the week when most schools close their gates for half-term, the cost of a family vacation can rocket by as much as 135 per cent, compared to the price of a holiday taken just one week later.

The investigation highlighted the average family foreign excursion when school’s out is 69 per cent more expensive than holidays when the learning institutes re-open.

This equates to an average of £1,831 extra per family during this spell.

Moreover, the organisation found some of the most considerable price hikes will be faced by those wishing to travel from London Gatwick to Lanzarote.

It discovered a family of four would have to fork out in the region of £4,022 during half-term to go on this particular getaway, compared to just £1,710 seven days later.

Ian Coles, director at Santander Cards, said: “Half-term is the perfect excuse for many to go abroad to get some sun, but with premium hikes like this the majority of people may simply not be able to afford it.”

The news follows a recent prediction from the Trades Union Congress that warned single income families could be worst affected by child benefit cuts outlined in the government’s Comprehensive Spending Review.

By Amy White