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Insurers Urge Chancellor Not To Hike UK Premium Tax

Law360, London (October 10, 2018, 1:04 AM BST) -- Britain's top insurance lobby launched a campaign on Wednesday urging the Treasury not to raise insurance premium tax in this month's Budget, warning that the levy already costs every household in the country an average of £200 ($260) a year.

The Association of British Insurers has launched a campaign warning the government against penalizing “responsible” insurance customers by further increasing the insurance premium tax. Hiking the rate of tax again would be "demonstrating the absurdity of punishing people who are doing the right thing,” the group said.

“The Chancellor has a difficult task ahead of him this Budget, but he should realize...

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