Wow, lots of discussion! 
I posted this in a hurry, have just read through the responses.
My views are mixed - because I never do take my kids out of school, because I don't think it's generally 'right' to do that. otoh, it is ridiculous the way the holidays are hiked up in price (the holiday companies say that basically they are subsidising the cheap rates, rather than putting it up at peak times
).
I think banning it is mad. But I think Gove is insane. Bear in mind he also wants to reduce the amount of school holiday, and also increase the length of the school day - he said that teachers should 'want to do this, if they enjoyed their job'

I strongly think there is more to childhood than school, and all this trying to keep the children locked in school for as long as possible seems to be trying to fix the problems of the few by restrictions of the many.