Insurers Urge Gov't To Slash 'Mother Of All Stealth Taxes'

Law360, London (January 30, 2020, 12:10 PM GMT) -- British insurers are pressing the government to slash a controversial auto-insurance premium tax ahead of the budget in March, claiming on Thursday that the levy adds £50 ($65) to the average cost of motor cover.

The Association of British Insurers has urged HM Treasury to use the next Budget as an opportunity to make improvements to the unpopular insurance premium tax, calling it the “mother of all stealth taxes.” The lobby group made its plea as it published its latest figures on the average cost of comprehensive motor insurance.

Car insurance rose to its third-highest level in the last three months...

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