IPT is forecast to raise £8 billion in 2023/24 and this revenue helps to fund vital public services including the NHS and social care.<\/p>
Insurance pricing is a decision which is affected by a wide range of factors, and the taxes that insurers pay are just one part of this. It is hard to predict the impact of an IPT reduction on inland lifeboats pricing because this largely depends on how the insurers react.<\/p>
The government keeps all tax policy under review<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4639", "label" : {"_value" : "Biography information for Bim Afolami"} } , "answeringMemberConstituency" : {"_value" : "Hitchin and Harpenden"} , "answeringMemberPrinted" : {"_value" : "Bim Afolami"} , "dateOfAnswer" : {"_value" : "2024-01-17", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-01-17T12:11:15.27Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-01-11", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Lifeboats: Insurance Premium Tax"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of extending the Insurance Premium Tax exemption to lifeboat services that operate on inland waterways, lakes and reservoirs.", "registeredInterest" : {"_value" : "true", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4762", "label" : {"_value" : "Biography information for Anthony Mangnall"} } , "tablingMemberConstituency" : {"_value" : "Totnes"} , "tablingMemberPrinted" : [{"_value" : "Anthony Mangnall"} ], "uin" : "9297"} , {"_about" : "http://data.parliament.uk/resources/1315824", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1315824/answer", "answerText" : {"_value" : "
We want to ensure that the whole of the UK can benefit. We continue to work with the Northern Ireland Executive to establish a Freeport in Northern Ireland as soon as possible.<\/p>
<\/p>
Our priority is to ensure we design a Freeport model which meets our international legal obligations and provides an attractive and competitive offer for ports, businesses and communities in Northern Ireland.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4095", "label" : {"_value" : "Biography information for Steve Barclay"} } , "answeringMemberConstituency" : {"_value" : "North East Cambridgeshire"} , "answeringMemberPrinted" : {"_value" : "Steve Barclay"} , "dateOfAnswer" : {"_value" : "2021-05-24", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-05-24T16:17:42.457Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-05-18", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Freeports: Northern Ireland"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what assessment he has made as to the potential merits of designating Northern Ireland as a freeport.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4762", "label" : {"_value" : "Biography information for Anthony Mangnall"} } , "tablingMemberConstituency" : {"_value" : "Totnes"} , "tablingMemberPrinted" : [{"_value" : "Anthony Mangnall"} ], "uin" : "3165"} , {"_about" : "http://data.parliament.uk/resources/1234402", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1234402/answer", "answerText" : {"_value" : "
The Government has temporarily applied a reduced rate of VAT (5 per cent) to tourist attractions and goods and services supplied by the hospitality sector. It came into effect on 15 July 2020 and will end on 12 January 2021 and applies across the UK.<\/p>
<\/p>
The temporary reduced rate will support over 150,000 businesses and protect 2.4 million jobs following the lifting of the COVID-19 lockdown.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3991", "label" : {"_value" : "Biography information for Jesse Norman"} } , "answeringMemberConstituency" : {"_value" : "Hereford and South Herefordshire"} , "answeringMemberPrinted" : {"_value" : "Jesse Norman"} , "dateOfAnswer" : {"_value" : "2020-09-23", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2020-09-23T15:23:59.77Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2020-09-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Hospitality Industry and Tourism: VAT"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what assessment he has made of the number of businesses in the hospitality and tourism sectors that have benefited from the temporary cut in Value Added Tax.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4762", "label" : {"_value" : "Biography information for Anthony Mangnall"} } , "tablingMemberConstituency" : {"_value" : "Totnes"} , "tablingMemberPrinted" : [{"_value" : "Anthony Mangnall"} ], "uin" : "90270"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 3, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }