INSURANCE PREMIUM TAX

Early day motion 716, tabled 2 February 1998 by Lord Fearn (Liberal Democrat). Signed by 68 members.

That this House expresses its concern about the unfairness of applying a higher rate of taxation to travel agents and tour operators selling insurance than that applied to direct insurance companies selling the same product; notes the effect of this higher rate tax on the profit margins of many small, independent travel businesses; further notes the implications of this loss of income for the future viability of these businesses and the impact this will have on local employment opportunities and choice for the consumer; and calls on the Government to remove the distortion by taxing all insurance retailers at the same rate.

Signatures by party: Liberal Democrat 28, Labour 23, Conservative 10, Labour/Co-operative 2, UUP 2, Plaid Cymru 1, Scottish National Party 1, UKUP 1.