Insurance Premium Tax

EDM number 741 in 2016-17, proposed by Timothy Farron on 29/11/2016.
Categorised under the topics of Financial services and Taxation.

That this House notes the increase in insurance premium tax from 10 to 12 per cent in June 2017 as set out in the Autumn Statement 2016; recognises that as a consequence premiums have doubled since 2015; further notes the Association of British Insurers' calculation that an average family will have seen their premiums rise by a total of £90 since 2015; regrets the effect that this increase will have on families already struggling to afford home insurance premiums following the floods of 2015; and calls on the Government to review its decision to implement such a rise by 2017.

This motion has been signed by a total of 19 MPs.