Speaking following the issue of an Open Letter to the Chancellor by the Chief Executives of the UK’s four largest health Insurers, AMII Executive Chairman, Stuart Scullion said: “We support and endorse the Open Letter to the Chancellor regarding the impact of any increase to Insurance Premium Tax (IPT).”
“The CEBR research, commissioned by BUPA, has enabled the industry to place a value on the potential operational and financial cost to the NHS of an increase in IPT, and it makes for compelling reading. We are calling for an IPT freeze on healthcare premiums and subscriptions for the duration of this Parliament.
AMII has been at the forefront of the demands for HM Treasury to conduct a fundamental review of IPT in the healthcare sector which we believe should be zero rated.”
AMII launched an IPT Petition to gain 100,000 signatures in 2017 to ensure the issue was debated in Parliament. The Petition was closed early as a result of the snap General Election and has not been re-launched due to ongoing political uncertainty.
Stuart added: “There should not be a need for us to have to re-launch the IPT Petition. I would hope HM Treasury can see sense in entering into a dialogue with those who have a strong interest in the impact of IPT increases, both for the NHS and consumers. My AMII members and I are ready to participate in those discussions.”