Osborne confident insurers can ‘absorb' IPT costs
Chancellor of the Exchequer George Osborne is confident the insurance sector can absorb the cost of the 56% increase in insurance premium tax announced in the summer Budget.
In the 8 July Budget announcement, Osborne raised IPT from 6% to 9.5%. The increase will come into force from November.
In a 21 July Treasury Committee meeting, Osborne was asked by Bassetlaw MP John
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