ABI 2015: Government recognises challenges of IPT rise
David Gauke MP also mentions innovation and adapting to technology as key steps going forward.
The government recognises the challenge the insurance industry faces following the rise in Insurance Premium Tax (IPT), according to David Gauke MP.
In his keynote address at the Association of British Insurers' (ABI) 2015 Conference, he said the government was communicating with industry representatives following the decision.
Chancellor George Osborne raised the tax from 6% to 9.5% in his summer budget with the increase coming into effect from 1 November.
Challenges
Gauke, who is the Financial
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