Finance Bill — Clause 7 — Report on Impact of System of Taxation of Oil and Gas Production on Investment and Sustainability Particularly of North Sea Operations — 3 May 2011 at 26:45
Theresa May MP, Maidenhead did not vote.
The majority of MPs voted against requiring a report on the impact of the tax arrangements for oil and gas production in the UK on investment and growth and particularly the sustainability of operation the North Sea.
MPs were considering the Finance Bill. The amendment rejected in this vote was:
- Amendment 10, page 4, line 7, at end add:
- “ (11) The Chancellor shall produce, before 30 September 2011, an assessment of the impact of taxation of ring fence profits on business investment and growth including an assessment of the long-term sustainability of oil and gas exploration in the North Sea.”
Had it not been rejected the above new subclause would have been added to the end of Clause 7 of the Bill.
Clause 7 provided for an increase in the tax rate applying to companies producing oil and gas in the UK and on the UK Continental Shelf from 20% to 32%.
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 (No)||Minority (Aye)||Both||Turnout|
|Con||225 (+1 tell)||0||0||73.9%|
|Lab||1||21 (+2 tell)||0||9.3%|
|LDem||27 (+1 tell)||0||0||49.1%|
|Frank Field||Birkenhead||Lab (minister)||no|