Finance Bill — Assessment of Impact of Corporation Tax Cut on Banking Sector — 12 Jul 2010 at 20:00
The majority of MPs voted against requiring the publication of an assessment of the impact on the banking sector of the change to the main rate of corporation tax for financial year 2011 proposed within the Finance Bill.
The Finance Bill contained provisions to enact a statement made in the Budget that corporation tax will be cut from 28% to 27% in 2011, and cut by a further 1% in each of the following three years.
- Clause 1, page 1, line 6, at end add—
(2) Prior to this rate taking effect, the Chancellor will place in the Library of the House of Commons an assessment of the impact of this clause on the banking sector.
The amendment was seconded by Alistair Darling, Liam Byrn and Angela Eagle
-  Finance Bill as at 1st July 2010
-  George Osborne, Chancellor of the Exchequer, House of Commons Emergency Budget Speech 22 June 2010.
-  June 2010 Budget Documents
-  Amendment Sheet (Amendment voted on is no. 34)
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||275 (+1 tell)||0||0||90.2%|
|Lab||0||215 (+2 tell)||0||84.1%|
|LDem||43 (+1 tell)||0||0||77.2%|