Corporation Tax (Charge and Main Rates for Financial Year 2010) — 28 Apr 2009 at 21:45
Oliver Letwin MP, West Dorset voted in the minority (No).
The majority Aye voters passed a motion which set the main corporation tax rate for the 2010 financial year. This rate was set at 28% and was unchanged from the previous year.
Corporation tax is, very simply, a tax on the profits of a company resident in the UK. There is a main rate of corporation tax which applies to companies with profits of over £1.5 million per year. Companies qualify for the lower rate when their profits are at or below £300,000 per year (this 'small companies' corporation tax' rate was set at 21% for 2009/10 - also unchanged from the previous year).
Both the Conservatives and Liberal Democrats voted against this small companies' corporation tax rate. The Tories probably voted this way because they believe corporation tax should be lower.
-  Motion on corporation tax, House of Commons, 28 April 2009
-  HMRC Corporation tax rates
-  Conservatives would cut corporation tax, George Osborne says, Daily Telegraph, 6 March 2009
Votes by party, red entries are votes against the majority for that party.
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.
|Party||Majority (Aye)||Minority (No)||Both||Turnout|
|Con||0||164 (+2 tell)||0||86.0%|
|Lab||301 (+2 tell)||0||0||86.6%|