“We believe that reducing IPT will increase the coverage of insurance. Please provide targeted relief from IPT regarding telematics policy. Clad Building Property Insurance and Cyber Insurance. Travel Insurance. Please match your IPT rate with other insurances, “said an industry group at the time.
However, the IPT was not mentioned in the Prime Minister’s speech, even if he introduced a new tax system.
At the Houses of Parliament, Snack said: And we do – in a responsible and sustainable way. Today I am announcing my tax plan.
“We take a principled approach to tax cuts. We will maintain space that violates fiscal rules, as I did today. Continued disciplinary action, the first demand for additional resources is higher spending. Not a lower tax, and of course, carefully consider the broader macroeconomic outlook. “
“With these principles in mind, our new tax system builds a stronger economy by reducing and reforming this parliamentary tax in three ways. Second, for higher growth. Create conditions. And third, we share the profits of growth fairly and allow people to leave more of their money. “
Snacks were quoted when Snacks announced this year that it would raise the National Health Insurance standard by £ 3,000. Insurance was also referred to when the Prime Minister discussed sanctions against Russia.
BDO UK, a commentary, accounting and business advisory firm, said:
“Many important announcements to support households through the’living cost’crisis were immediate priorities. The Prime Minister also promised plans to encourage business investment and more favorable tax rates in the medium term. “