Liberal Democrat leader Tim Farron has urged the government to reconsider increasing the insurance premium tax (IPT) rate to 12%.
Farron (pictured), who is also the MP for Westmorland and Lonsdale, submitted an Early Day Motion for MPs to debate this matter in parliament. He was reacting to the government's latest rise to IPT, which was announced in the 2016 Autumn Statement. This is the third successive change to IPT in less than two years, taking the rate from 6% in 2015 to 12%, which is due to come into effect during June 2017. Farron warned that the average family has seen their insurance premiums rise by an average of £90 since 2015. Early day motions (EDMs) are formal motions submitted for debate in ...
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