I actually think the suggestion of 'overtime' for teachers to work with students who need additional support in the hols is a sound one.
It already happens - several of my colleagues are running classes over Easter.
I'm not because I'm leaving it to my younger, childless colleagues - a) they need the cash more because they're lower on the pay scale, & also I'd be paying childcare so it wouldn't be financially worth my while & b) I value the time with my own kids after neglecting them all term!
It shouldn't be linked directly to fines because it's not necessarily the kids who've missed a few days to take a holiday who need the catch up.
Tbh, I'm against fining. I have a number of relatively comfortably off friends who simply weigh it against the saving in holidaying in termtime & cheerfully accept that if they get fined, it'll be worth it - whereas for families taking a holiday in term time because they just can't go otherwise, it's pointlessly punitive.
Poor attendance is a huge issue - but one-off short holidays far less so than the kid who is off 3 days in every fortnight with spurious 'colds' 'tummyaches' etc (often because the child isn't doing great anyway & the parent(s) struggle to cope with parenting/school/life.)
We should be supporting persistently poor attenders, not gunning for the parent who has made a perfectly rational decision that their family could bloody well do with a couple of days' break & the kids' schooling will not suffer irreparably as a result.