Insurance tax cut could save homeowners and drivers £100s

Chancellor Jeremy Hunt urged to cut insurance premium tax to help households manage rising costs

Car insurance costs concept
(Image credit: Getty Images)

The government is being urged to cut a tax that is adding almost £100 to car and home insurance policies.

Higher inflation has already put up the cost of cover for drivers and homeowners but there is another charge that the government could help reduce – insurance premium tax (IPT).

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.