Banking (Special Provisions) Bill — Independence while under nationalization — 19 Feb 2008 at 21:00

Jo Swinson MP, East Dunbartonshire voted in the minority (Aye).

The majority voted against the insertion of a specific paragraph[1] into Banking (Special Provisions) Bill[2] requiring the Treasury to state its strategic objectives and an outline of how it would provide for independent day-to-day management of a bank before it could order its nationalization.

The current plan enables the Treasury to order the transfer of securities, property, rights and liabilities from an "authorised UK deposit-taker" to another corporate body "if (and only if) it appears to the Treasury to be desirable to make the order for

"(a) maintaining the stability of the UK financial system in circumstances where the Treasury consider that there would be a serious threat to its stability if the order were not made;
"(b) protecting the public interest in circumstances where financial assistance has been provided by the Treasury to the deposit-taker for the purpose of maintaining the stability of the UK financial system."[3]

The proposal, which only had minority support according to this vote, would have required the Treasury to lay before both Houses of Parliament

"a Minute setting out a scheme for the management of the authorised UK deposit-taker following the exercise of this power, including provisions setting out the strategic objectives for the business as determined by the Treasury and further provisions to ensure the independent day-to-day management of the business of the authorised UK deposit-taker to achieve these objectives."

Debate in Parliament | Source |

Party Summary

Votes by party, red entries are votes against the majority for that party.

What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.

What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.

What is Turnout? This is measured against the total membership of the party at the time of the vote.

PartyMajority (No)Minority (Aye)BothTurnout
Con0 162 (+2 tell)085.0%
DUP0 5055.6%
Ind0 1020.0%
Lab297 (+2 tell) 0084.9%
LDem0 48076.2%
PC0 2066.7%
SDLP2 0066.7%
SNP0 4066.7%
Total:299 222082.8%

Rebel Voters - sorted by party

MPs for which their vote in this division differed from the majority vote of their party. You can see all votes in this division, or every eligible MP who could have voted in this division

Sort by: Name | Constituency | Party | Vote

NameConstituencyPartyVote
no rebellions

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