Finance Bill — New Clause 13 — Report on Bankers' Bonus Tax — 3 Jul 2012 at 21:45
The majority of MPs voted against requiring a report on a tax on Bankers' Bonuses, including on how the revenue raised could be spent to create jobs.
The text the proposed new clause for the Finance Bill which was rejected in the vote was:
- The Chancellor of the Exchequer shall review how a bank bonus tax could be repeated and place a report in the library of the House of Commons by 1 September 2012 on how the revenue raised could be invested in a Real Jobs Guarantee to create new jobs and tackle unemployment.
A tax on bankers' bonuses, known formally as a "bank payroll tax", was levied as a one-off in 2009. A bank payroll tax was first introduced by Section 22 of the Finance Act 2010; Schedule 1 of that Act set the rate of the bank payroll tax at 50% which applied to bank bonuses exceeding £25,000.
-  Taxation of banking - House of Commons Library - Standard Note - 17 July 2013
-  Section 22 of the Finance Act 2010
-  Schedule 1 of the Finance Act 2010
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||266 (+1 tell)||0||0||87.3%|
|Lab||0||224 (+2 tell)||0||87.9%|
|LDem||48 (+1 tell)||0||0||86.0%|