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RAC response to 2015 Summer Budget: increase in Insurance Premium Tax (IPT)

Mark Godfrey, director of RAC Insurance said: “This increase can only be seen as a tax on the motorist because of course insurance is mandatory if you drive, so consumers have no choice.

“On a typical £400 premium this will amount to £14 extra and really undermines the work that has been undertaken by both the industry and the Government to drive down the cost of car insurance.

“By maintaining a freeze on fuel duty today the chancellor has appeared to support motorists with the one hand, but is very much taking away with the other as the change in IPT will mean a significant increase in the cost of motoring.”

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About RAC Media Centre

The RAC Media Centre provides journalists and news outlets with the latest motoring-related news, comment, data and research.

The RAC is an iconic UK brand, and provides complete peace of mind to nearly 14 million UK private and business drivers - whatever their motoring needs. As well as its premium nationwide breakdown assistance service – with an expert branded patrol workforce attending more than two million breakdowns every year – and European breakdown assistance products, it offers a wide range of market-leading products across insurance, legal services, vehicle inspections and service, maintenance and repair. Included in this is the first-of-its-kind nationwide Mobile Mechanics service which brings the garage to homes and workplaces. 

At the forefront of new solutions for business fleets and consumers, the RAC’s breakdown service is electric-ready with mobile EV charging technology and be called on using myRAC – its all-in-one route planner, fuel finder and breakdown reporting app. 

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