Finance Bill — Schedule 3 — Setting of Rate of Surcharge on Bank Profits Via Regulations — 8 Sep 2015 at 21:15
Oliver Letwin MP, West Dorset voted with the majority (No).
The majority of MPs voted to set the rate of the supplementary tax surcharge on bank profits at 8% rather than allow it to be set, and varied, via regulations.
MPs were considering the Finance Bill:
The amendment rejected by the majority of MPs in this vote was:
- Amendment 3, page 74, line 4, :leave out "8%" and insert "the relevant percentage"
New clause 269DA titled: Surcharge on banking companies started:
- (1) If a company is a banking company in relation to an accounting period (a “chargeable accounting period”), a sum equal to 8% of its surcharge profits for the period, so far as they exceed its surcharge allowance for the period, is to be charged on the company as if it were an amount of corporation tax chargeable on the company.
The amendment rejected in this vote sought to replace the 8% given in that clause with "the relevant percentage".
The intent of the change was described as:
- This amendment would replace the 8% rate of surcharge in the Bill with a new rate to be set in regulations.
Further amendments sought to cap the rate at 8% and allow for different tiers of surcharge.
-  Parliament's webpage on the Finance Bill
-  House of Commons, Official Report, 8 September 2015
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||301 (+2 tell)||0||0||91.8%|
|SNP||0||48 (+2 tell)||0||89.3%|