Finance Bill — New Clause 10 — Review Impact of Changes to the Annual Investment Allowance Made in 2011 — 2 Jul 2014 at 15:45

Julian Huppert MP, Cambridge voted against requiring a report on the impact of reducing the tax incentive for businesses to invest in assets in 2011 (the incentive has since been increased above its original level).

The majority of MPs voted against requiring a report on the impact of reducing the tax incentive for businesses to invest in assets in 2011 (the incentive has since been increased above its original level).

MPs were considering the Finance Bill[1]. The proposed new clause rejected in this vote was:

The report requested relates to the reduction in the annual investment allowance from £100,000 to £25,000 which occurred in 2011. Alongside the reduction there were various technical amendments to the rules on allocating the allowance to specific time periods and between businesses.

The annual investment allowance is the amount spent on investing assets in a year which companies (or self-employed individuals) can deduct from their profits prior to the calculation of corporation tax due on the profits

After the 2011 reduction the allowance was increased to £250,000 in 2013[3] the Finance Act under consideration at the time of the vote provided for a further increase to £500,000[4].

During the debate prior to the vote MP Catherine McKinnell (Newcastle upon Tyne North, Labour) explained the motivation behind proposing the new clause saying[5]:

  • The new clause asks the Government to undertake a proper review of the impact on business investment of that terrible decision. We need to learn the lessons from that dreadful mistake

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Debate in Parliament | Source |

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.

PartyMajority (No)Minority (Aye)BothTurnout
Alliance0 10100.0%
Con259 (+1 tell) 0085.2%
DUP1 4062.5%
Green0 10100.0%
Independent0 1050.0%
Lab0 230 (+2 tell)089.6%
LDem46 (+1 tell) 0083.9%
PC0 2066.7%
SDLP0 2066.7%
SNP0 60100.0%
Total:306 247086.5%

Rebel Voters - sorted by party

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

NameConstituencyPartyVote
Sammy WilsonEast AntrimDUP (front bench)no

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