Emergency Budget — Pensions — 28 Jun 2010 at 21:46
Patrick McLoughlin MP, Derbyshire Dales voted to make workplace pensions more attractive.
The majority of MPs voted in favour of changes to certain workplace pensions schemes intended to enable "auto-enrolment" and make them more tax efficient.
The motion approved by MPs was:
- That provision may be made about registered pension schemes.
Section 2.152 of the Red Book, which provides the details of the budget, states:
- Changes will be made to pensions tax legislation in the Finance Bill introduced in the autumn to enable the National Employment Savings Trust (NEST) to register as a pension scheme for tax purposes. Further legislation will be introduced in Finance Bill 2011 to remove tax charges on late contributions following auto-enrolment and to amend the tax rules on unauthorised borrowing by registered pension schemes. (March 2010 Budget)
The coalition's programme for government states:
- We will simplify the rules and regulations relating to pensions to help reinvigorate occupational pensions, encouraging companies to offer high-quality pensions to all employees, and we will work with business and the industry to support auto enrolment.
NEST is described on its website as:
- NEST will be a new workplace pension scheme that's being designed specifically to meet the needs of low-to-moderate earners and their employers.
As one of two votes following the debate on the Emergency Budget support for this motion might be taken as general support for the budget as a whole as well as specific support for the measures related to private sector employee pensions.
-  June 2010 Budget Documents
-  Coalition Programme for Government - Pensions and Older People
-  NEST scheme website
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||296 (+1 tell)||0||0||97.1%|
|Lab||0||247 (+2 tell)||0||96.5%|
|LDem||53 (+1 tell)||0||0||94.7%|