Dave Capper, CEO of Westfield Health, has warned that the Autumn Budget has missed a critical opportunity to support workplace health and preventative care by keeping Insurance Premium Tax (IPT) on health products at 12%.
“Keeping Insurance Premium Tax (IPT) for health at 12% is a missed opportunity at the worst possible time. With long-term sickness at record levels, taxing people and businesses who are trying to stay healthy makes little economic sense. Health insurance isn’t a luxury good; it’s a core part of national resilience.”
Removing IPT would have made workplace health support – such as health cash plans and private health insurance – more affordable, helping to expand healthcare capacity across the system and relieve pressure on an overstretched NHS. It would have opened the door to earlier intervention and kept more people in work rather than stuck on long waiting lists.”
Instead, the Government has chosen to maintain a barrier to prevention at the very moment it says it wants to ‘get Britain working.’”
