Updated: Labour pledges to increase IPT on PMI to 20%

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Updated: Labour pledges to increase IPT on PMI to 20%

Jeremy Corbyn has announced that a Labour Government would scrap hospital car parking fees by using funds raised from increasing Insurance Premium Tax (IPT) on private medical insurance (PMI) to 20%.

In a statement, Labour said if in power, it will make parking at NHS England hospitals free for patients, visitors and NHS staff. Labour will increase the rate of Insurance Premium Tax to 20% for private healthcare insurance products to fund the policy. This will replace £162 million that England's hospitals currently raise from car parking charges by scrapping the subsidy for people that can afford it, rather than charging people who can't, the Labour Party said. IPT is now at 12% on insurance...

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