Rise in Insurance Premium Tax is “outrageous” says AA

10th July 2015 | 16 Comments

In his Budget, the Chancellor said Insurance Premium Tax will be increased from 6 per cent to 9.5 per cent. The AA, for one, was unimpressed, describing the increase as “an outrageous hike thatcould well backfire by leading to an increase in uninsured drivers.” The IPT increase will mean an extra £17.50 on a £530 average Shoparound premium according to AA benchmark British Insurance Premium Index.

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