Taxation of the Financial Sector — Financial Transaction Tax — Banking Levy — 9 Feb 2011 at 20:39
The majority of MPs voted for a banking levy, a tax charged as a fraction of a bank's assets, and against a financial transaction tax.
The motion passed in this vote was:
- That this House
- takes note of European Union Document No. 15282/10 and Addendum, relating to financial sector taxation;
- recognises that decisions regarding direct taxes are primarily a matter for sovereign governments;
- supports the timely action the Government has already taken to introduce a permanent levy on bank balance sheets to ensure that banks make a full and fair contribution in respect of the potential risks they pose to the wider economy;
- notes that the Government continues to explore the costs and benefits of financial activities taxes and will work with international partners to secure agreement; and
- further supports the Government's position that an EU-wide financial transaction tax could lead to the relocation of financial services outside the EU.
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A UK Bank levy was introduced by Schedule 19 of the Finance Act 2011[1]; it raises a tax on banks based on their total applicable liabilities and equities[1].
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.
Party | Majority (Aye) | Minority (No) | Both | Turnout |
Alliance | 1 | 0 | 0 | 100.0% |
Con | 242 | 11 | 0 | 82.7% |
DUP | 0 | 5 | 0 | 62.5% |
Green | 0 | 1 | 0 | 100.0% |
Independent | 1 | 0 | 0 | 100.0% |
Lab | 2 | 195 | 0 | 76.7% |
LDem | 48 | 0 | 0 | 84.2% |
PC | 1 | 2 | 0 | 100.0% |
SDLP | 0 | 3 | 0 | 100.0% |
SNP | 0 | 6 | 0 | 100.0% |
Total: | 295 | 223 | 0 | 80.6% |
Rebel Voters - sorted by constituency
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
Name | Constituency | Party | Vote |
Richard Shepherd | Aldridge-Brownhills | Con (front bench) | no |
Hywel Williams | Arfon | PC (front bench) | aye |
Frank Field | Birkenhead | Lab (minister) | aye |
David Nuttall | Bury North | Con (front bench) | no |
Christopher Chope | Christchurch | Con (front bench) | no |
Douglas Carswell | Clacton | Con | no |
David Davis | Haltemprice and Howden | Con | no |
Bernard Jenkin | Harwich and North Essex | Con (front bench) | no |
Andrew Turner | Isle of Wight | Con (front bench) | no |
Emily Thornberry | Islington South and Finsbury | Lab (minister) | aye |
Philip Hollobone | Kettering | Con (front bench) | no |
Anne Main | St Albans | Con (front bench) | no |
Bill Cash | Stone | Con (front bench) | no |
Peter Bone | Wellingborough | Con (front bench) | no |