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Catch up with the latest press releases from LV=

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LV= responds to IPT increase from 10% to 12%

Press release: 23/11/2016

Steve Treloar, LV= General Insurance Managing Director, said: “Government has incorrectly stated that IPT is a tax on insurers – it’s not, it’s a tax that consumers have to pay when they purchase insurance. This is now the third IPT increase in a row, so it’s extremely disappointing that the Treasury appears to be setting a precedent of placing an ever-increasing burden on hardworking consumers. We understood that the previous 0.5% IPT increase in the last Budget was specifically for raising an additional £700m funding for flood defence management – yet we are still no closer to understanding how this will be distributed. Unfortunately the Government has also been slow to implement its reforms around unnecessary and exorbitant motor claims, so this latest increase is yet another blow for consumers, hitting their pockets hard with, as yet, nothing to show for it.”