IPT could rise to 12.5% at March budget, AA warns

The AA has warned that insurance premium tax could rise from 9.5% to 12.5% in next week's Budget announcement.

A rate of 12.5% would mean IPT would have increased by 108% in six months.

A statement by the AA said: "If the Chancellor makes such a move, the AA has vowed to clearly show all its millions of

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