questionText: To ask the Chancellor of the Exchequer, whether she plans to increase the rate of Insurance Premium Tax; and whether she has made an assessment of the potential impact of any such increase on (a) household and (b) business insurance costs.
answerText: Insurance Premium Tax (IPT) is a broad-based tax which raises important revenue to fund essential public services including the NHS, defence, and education. The rate of IPT has been unchanged since 2017.The Chancellor makes decisions on tax policy at fisc...
heading: Insurance Premium Tax