The Centre for Economic and Business Research (CEBR) calculated 200,000 people moved away from health insurance and onto NHS care as a result of the trio of IPT increases.
Huw Evans, Director General of the ABI, said:
“The Chancellor has a difficult task ahead of him this Budget but he should realise a raid on the responsible is the wrong way to balance the books. People buy insurance because it is a legal requirement or because they are wisely protecting their homes, businesses, families and health. Punishing these people with another tax rise would be inexcusable. Given the need to fund the NHS it would be particularly counter-productive to make health insurance even more expensive, forcing more people to rely on over-stretched NHS resources.”
The ABI’s latest #IPTsUnfair campaign features an Insurance Premium Tax inspector handing fines to people who are doing responsible things, such as securing their properties and obeying signs about putting their dogs on a lead. The stars of this year’s film are likely to look familiar to the thousands of people who will see the short film in their Facebook feed.
-ENDS-
Notes for Editors
Enquiries to:
Malcolm Tarling 020 7216 7410 Mobile: 07776 147667
Sarah Cordey 020 7216 7375 Mobile: 07860 189071
Dominic Stannard 020 7216 7350 Mobile: 07725 245838
1. The Association of British Insurers is the voice of the UK’s world leading insurance and long-term savings industry.
A productive, inclusive and thriving sector, we are an industry that provides peace of mind to households and businesses across the UK and powers the growth of local and regional economies by enabling trade, risk taking, investment and innovation.
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3. More news and information from the ABI is available on our web site, www.abi.org.uk.