AA warns of IPT hike in Osborne's Budget
Broker believes Insurance Premium Tax could go up again in less than six months in “double-whammy con on drivers”.
The AA has warned that insurance premium tax (IPT) could be subject to a further rise this year following last year's increase from 6% to 9.5%.
The broker said it could go up following indications from Westminster sources that the Chancellor of the Exchequer, George Osborne, could "slip another 3% IPT increase under the radar in the Budget next week".
The AA advised that this means that if the rate increases to 12.5% the tax would have increased by 108% in six months.
Con
Edmund King, AA
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