questionText: To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of decreasing insurance premium tax for car insurance.
answerText: IPT is a tax on general insurance premiums charged at two rates: a standard rate at 12%, including car insurance, and a higher rate at 20%. Insurance pricing is a decision which is affected by a wide range of factors, and the taxes that insurers pay are j...
heading: Motor Insurance: Insurance Premium Tax