Autumn Budget 2018 reaction: IPT remains the same

Allianz's director of SME and corporate partnerships, David Martin commented:

"This is a pleasing decision and let’s hope it was recognised that customers should not be penalised for doing the right thing, and the industry’s lobbying of the government played a part in it.

"However, there is a sense that at some point the rate will rise again and the industry should continue to do all it can to protect our customers for as long as possible.

"In the meantime we should be pleased that our customers can continue to purchase the insurance protection their business needs without fear of a rise in IPT."