Budget 2005: ABI response
Peter Vipond, Association of British Insurers' director of financial regulation and taxation said: “The Government is right to freeze Insurance Premium Tax. This is entirely justified by the fact that the Government took £2.4bn for the current tax year, charged on insurance products that provide protection to policyholders and their families.”
Mr Vipond added: "The Government's announcement of systematic reform of Britain's regulatory system is welcome news, but we will be looking for substantial policy changes to combat over-regulation."O
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