Opposition Day — Banking — Access to Credit for Businesses — Banking Sector Pay Reform — 7 Feb 2012 at 19:28
The majority of MPs voted against banking reforms to give businesses easier access to credit and to bring transparency, accountability and responsibility into the setting of pay in the banking sector.
The motion rejected in this vote was:
- That this House
- notes with concern that the recent Bank of England publication, Trends in Lending, shows that net lending to businesses has fallen in nine out of the last 12 months and by more than £10 billion in the last year;
- further notes that a Department for Business, Innovation and Skills report published on 2 February 2012 states that the stock of lending to small and medium-sized enterprises peaked in 2009 and in November 2011 declined by 6.1 per cent. compared to November 2010, whilst banks were frequently setting bonuses for their senior executives which were too large;
- believes that bank executive remuneration should be related to performance and that banks either directly or indirectly supported by the taxpayer must recognise that the taxpayer expects very large bonuses only to be paid to reflect genuine exceptional performance;
- notes with concern that the Government has not given due consideration to repeating the bankers’ bonus tax, in addition to the bank levy, to pay for 100,000 jobs for young people;
- calls on the Government to increase transparency, accountability and responsibility in the setting of pay in the banking sector, including through the immediate implementation of the Walker Review on corporate governance, and the placing of an employee representative on the remuneration committees of company boards; and
- further calls on the Government to reform the banking sector so that it better supports businesses and provides the credit they need to create jobs and growth.
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 (No)||Minority (Aye)||Both||Turnout|
|Con||252 (+1 tell)||0||0||82.7%|
|Lab||0||227 (+2 tell)||0||88.8%|
|LDem||43 (+1 tell)||0||0||77.2%|