What a scam: HMG requires us to purchase motor insurance – and then hammers us with a literally punitive tax penalty for so doing!
The link between motor insurance and taxation hasn’t escaped BIBA’s ever-vigilant Eric Gallbreath who warned the government this week that it should not even think about putting up Iniquitous Punishment Tax (IPT) in the Budget later this month.
Such a move, he argues, would be “counter-intuitive” and would risk undoing (or possibly preempting) any good done by the coalition’s laudable attempts to bring down premiums by giving insurers the civil litigation “reforms” they have requested.
In a dramatically leaked letter destined never to be opened by Chancellor Gideon Oliver “Squeaky” Osborne, Gallbreath urged the government to “work more closely” with BIBA in 2013 “to assist Britain’s economic recovery”.
But does BIBA have the necessary wherewithal to influence government policy? What do you think, Reader?!