Finance Bill — Second Reading — 6 Jul 2010 at 25:56

Eleanor Laing MP, Epping Forest voted to support the 2010 Finance Bill which included an increase in VAT from 17.5% to 20% among other measures.

The majority of MPs voted for the Finance Bill[1] to be read a second time ie. for it to continue on its path towards becoming law. The bill contained the changes to the tax system, as well as provisions relating to pensions and MPs expenses, which had been announced in the coalition's emergency budget[2][3].

Those supporting a second reading were voting in support of the changes to the rates of Capital Gains Tax and Value Added Tax (VAT), and other measures, which had been announced in the budget.

The Bill included provisions to[4]:

  • raise VAT from 17.5% to 20%
  • set the main rate of Corporation Tax at 27% for 2011/12, down from 28% in 2010[5].
  • increase the standard rate of insurance premium tax (IPT) from 5 per cent to 6 per cent and the higher rate of IPT from 17.5 per cent to 20 per cent, both with effect from 4 January 2011.
  • introduce the power for Treasury ministers to repeal the restriction of pension tax relief to the basic rate for high income individuals, known as the “high income excess relief charge”. The charge is a tax on pension contributions applied to individuals whose gross income is over £150,000 per year.
  • maintain the exemption from income tax for accommodation expenses paid or reimbursed to MPs

This division occurred at around 2am following nine and a half hours of debate.

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 (Aye)Minority (No)BothTurnout
Alliance0 10100.0%
Con282 (+1 tell) 0092.5%
DUP0 7087.5%
Green0 10100.0%
Lab0 214 (+2 tell)083.7%
LDem50 (+1 tell) 0089.5%
PC0 1033.3%
SDLP0 1033.3%
SNP0 5083.3%
Total:332 230088.0%

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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