New flood insurance tax ‘could breach EU law’ – Daily Telegraph

Posted August 27th, 2013 in competition, EC law, insurance, news, taxation by tracey

“Plans to charge every household in the country £10.50 to cover the cost of insuring properties in flood risk areas amount to a ‘tax’ and represent poor value for money for the economy, government analysts have concluded. The new system, intended to help up to 500,000 housholders afford home insurance despite living in fear of floods, is also likely to breach European laws, officials have said.”

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Daily Telegraph, 26th August 2013