Finance Bill — New Clause 5 — Report on Tax on Bankers' Bonuses and Sepnding Proceeds on Guaranteed Jobs — 9 Apr 2014 at 17:45
Oliver Letwin MP, West Dorset voted against a review of the potential impact of introducing a tax on bankers bonuses covering how the revenue could be invested to pay for a guaranteed jobs scheme for those in long term unemployment.
The majority of MPs voted against a review of the potential impact of introducing a tax on bankers bonuses covering how the revenue could be invested to pay for a guaranteed jobs scheme for those in long term unemployment.
MPs were considering the Finance Bill. The new clause which was rejected in this vote was:
- ‘(1) The Chancellor of the Exchequer shall carry out a review of—
- (a) the possible impact on the bank levy rate of incorporating a bank payroll tax within the bank levy; and
- (b) how the additional revenue could be invested to help pay for the first year of a guaranteed jobs scheme for people in long-term unemployment.
- (2) The Chancellor must within six months of the passing of this Act publish the report of the review and lay the report before the House
The majority of MPs voted against giving the clause its second reading; preventing it from continuing its path to becoming law.
A tax on bankers' bonuses formally as a "bank payroll tax" was levied as a one-off in 2009.
-  Parliament's webpage on the Finance Bill
-  Taxation of banking - House of Commons Library - Standard Note - 17 July 2013
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||251 (+1 tell)||0||0||82.6%|
|Lab||0||204 (+2 tell)||0||79.8%|
|LDem||42 (+1 tell)||0||0||76.8%|