NCAIPT steps up campaign to abolish IPT in time for Budget

The National Campaign Against Insurance Premium tax (NCAIPT) has stepped up its campaign for the abolition of Insurance Premium Tax (IPT) ahead of the March Budget. The pressure group is concerned that with a General Election looming the Chancellor of the Exchequer may decide to make headline rate cuts and increase public expenditure, but will claw back revenue by increasing the so-called stealth taxes such as IPT. The NCAIPT is also worried that the tax could increase from 5% to 12.5% after the Budget. Philip Allott, project director at NCAIPT, said: "At the moment we do not ap...