Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the effect of changes in the rate of insurance premium tax on the cost of insurance premiums since 2011.

It is difficult to isolate the impact of insurance premium tax rate increases from other factors impacting on the price of insurance products.

The Government nonetheless publishes prospective impact assessments for the changes in the rate of Insurance Premium Tax (IPT).

The assessment for the most recent change (announced at Autumn Statement 2016) can be found here:

https://www.gov.uk/government/publications/insurance-premium-tax-increase-of-standard-rate/insurance-premium-tax-increase-of-standard-rate