Lib Dems urge rethink on IPT increase

Houses of Parliament

The motion, by Tim Farron, MP Westmorland and Lonsdale, said plans to increase the IPT from 10% to 12% next June will have a detrimental effect "on families already struggling to afford home insurance premiums following the floods of 2015". It comes amid further criticism of the rise from peers in the House of Lords. Lib Dem peer Baroness Kramer said the 10% rate was already "way too high". "It is a tax that, above all, hits young people, millennials and young families," she said. "For the ty