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Proceeding contribution from David Gauke (Conservative) in the House of Commons on Thursday, 15 July 2010. It occurred during Committee of the Whole House (HC) and Debate on bill on Finance Bill.

Finance Bill

That is not what I am saying. I am saying that the increase in insurance premium tax, which is payable by insurers, is likely to be passed on to consumers. We are not denying that; in simple terms, we need the money. Even if the increases to the standard and higher rates of IPT are passed on in full, the impacts will be very modest, costing households less than 20p a week on average and businesses an average of less than 0.01% of annual turnover, even for smaller businesses.

Secondary information

Type
Proceeding contribution
Reference
513 c1131 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Travel Corporation tax Annuities Allowances Driving Income tax Exemptions Insurance Health insurance Inheritance tax Income Insurance premium tax Pensions Members Older people Working hours Tax allowances Tax avoidance Tax yields Independent Parliamentary Standards Authority Motor insurance
Legislation
Finance Bill 2010-12
Link
View this Proceeding contribution on www.publications.parliament.uk