Budget for a premium change.
Insurers and brokers will be looking with interest at the forthcoming Budget as speculation rises over the fate of the insurance premium tax.
The Budget is looming and the insurance industry is hitting the panicbutton.
The Association of British Insurers' plea for a reduction in insurance
premium tax is, in reality, nothing of the sort. It is a thinly disguised
pre-emptive strike against the probable increase that it fears. At best,
the ABI will haul back the increase by half a percent.
Of course, it might just see it off altogether but that looks unlikely as
the Treasury is on the hunt for easy revenue and IPT fits that bill very
nicely
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