Biba urges Chancellor not to raise IPT in the Budget
The British Insurance Brokers’ Association (Biba) has called on the Chancellor not to raise Insurance Premium Tax (IPT) above its current level of 6% in the upcoming Budget on 21 March.
The trade body argued against any rise in order to avoid a further taxation of protection through additional insurance costs for customers at a time when income and business margins are tight.
The call came in Biba's submission to the Chancellor, George Osborne, which focused on the need to recognise the importance of risk management and insurance protection to assist growth and business resilience.
Eric Galbraith, Biba's chief executive, highlighted the value of general insurance brokers in
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Blog: Can Biba sustain the momentum?
Biba's CEO, Graeme Trudgill, has hailed the organisation’s 2025 Manifesto as “the most successful one Biba has ever undertaken”. The question now is whether the trade body can maintain this impetus amid ambitious aspirations.
Hedron to support brokers on ‘talent crunch’
Hedron Network has launched Hedron People, a support framework to help independent brokers attract new talent, develop existing teams, and retain key staff.
Liiba lists 2026 agenda
The London and International Insurance Brokers’ Association has put accelerating growth in a softening market and reinforcing London’s position as the world’s leading specialty insurance centre at the heart of its agenda for 2026.
Acrisure completes UK broker rebrands
Acrisure has rebranded Russell Scanlan and WH&R McCartney, completing its programme of renaming its UK brokers.
Clear makes vet broker first deal of 2026
Clear Group has kicked off 2026 purchasing specialist veterinary insurance broker Shire Insurance Services, strengthening its UK retail pillar.
Uris enters Northern Ireland home insurance market
Midas, part of Uris Group, has expanded its Midas Jewel household product into Northern Ireland.
Ardonagh launches pan-European MGA
Ardonagh Europe has launched Dublin-headquartered Orvia Underwriting, a pan-European managing general agent.
Biba to open AI Academy
The British Insurance Brokers’ Association is working with Markel to offer an AI Academy for the trade body’s members.