The proposed increases in ipt represents an unjustified attack on our country’s young drivers
Crispin Moger, CEO at Marmalade, gives his views on the reported insurance premium tax increase (IPT) which has been slammed as a ‘hammer blow for the hard-pressed’, with young drivers expected to be hardest hit.
“The proposed increased in IPT represents an unjustified attack on our country’s young drivers who are wishing to protect themselves whilst behind the wheel.
“The affordability of insurance is under threat in a big way– in 18 months, tax on insurance will have doubled – no other tax has increased by that much, it’s preposterous. I feel this tax is really regressive as it’s applied to individual policies – as a result people who have the highest insurance costs pay a disproportionately high rate of IPT.
“It’s apparent that all the discussions by the government this year about helping young drivers was bluff - they have really stitched up young drivers because they can’t add up – it’s disgraceful.”
Marmalade is the leading provider of car insurance and cars for 17-24 year-olds, providing a range of products that specifically meet the needs of young drivers.
Crispin adds: “Our approach is based on safety which means that we can help our young customers to drive sensibly on the roads and be aware of the dangers, which in turn enables us to offer low premiums from the outset. Whilst there will be notable increases across the industry, we hope we can continue to offer the best possible price for young drivers.”