ABI calls for Government to cut IPT on health insurance

Prior to the November Budget last year, the ABI called for a freeze on IPT to help combat the cost of living crisis. The industry body has taken the call further ahead of the Spring Budget on 15 March, now recommending that the rate of IPT be reduced on health insurance to make the product more accessible. Currently, a rate of 12% is levied against health insurance premiums, which the ABI stated forms part of "significant cost barriers" that are hampering take-up of the product among individuals and employers. Research commissioned by the ABI and conducted by Public First among 2,0...