News: Biba chief warns Con-Dem leaders of tax hike implications
The chief executive of the British Insurance Brokers' Association (Biba) has called on the new coalition Government to avoid taking the "easy option" of raising taxes to cut the deficit.
Speaking ahead of the emergency budget announcement on 22 June, Eric Galbraith warned that any increase in Insurance Premium Tax (IPT), at a time when people were already out of pocket due to the recession, could result in clients cutting necessary cover.
However, he welcomed plans by the Conservative-Liberal Democrat Government to cut public spending by £6bn.
"Businesses have been cutting back for the past couple of years - they have had to adopt a level of austerity. The Government has got to
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