Jamie Page comments on the Autumn Budget

Jamie said:

“Keeping Insurance Premium Tax at its current rates is both a pragmatic and welcome move by the Chancellor. The cost of living is a daily challenge for families and businesses alike, so any further increase to IPT would have directly inflated the cost of some important insurance products. 

Increasing the tax burden would only penalise those proactively looking for peace of mind and protecting themselves from unexpected financial shocks. By resisting a further hike, the Chancellor has protected consumer wallets and supported businesses in maintaining vital employee benefits.

While the industry will continue to make the case for a long-term reduction in IPT, holding rates steady is a positive step that helps keep crucial cover within reach for millions across the UK.”