Biba reiterates IPT cut call ahead of conference
The British Insurance Brokers’ Association has repeated its call for a cut in insurance premium tax as it unveiled new research.
The trade body also flagged that increasing IPT would be a ‘bad decision’ hitting households and businesses.
It cited that in a new report by WPI Economics, commissioned by Biba, the majority of survey respondents (64%) saw IPT as a tax on working people.
The results cement our previous calls on government that the rate of IPT cannot be increased and indeed should be decreased as requested in Biba’s 2025 manifesto.
Biba stressed it is vitally important for Labour to stick strictly to its manifesto
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