ABI comments on SMF report on impact of Insurance Premium Tax

Responding to the publication of a report from the Social Market Foundation: The Impact of Insurance Premium Tax on UK households, Huw Evans, Director General of the Association of British Insurers (ABI), said:

"This report lays bare how unfair IPT is for individuals and businesses who have acted responsibly and taken out insurance. The report exposes that this tax impacts hardest on the poorest as well as penalising the responsible who insure their homes, businesses and health. Having doubled this tax in two years, it is time for the Government to stop raiding the responsible and commit to no further increases in this Parliament."