Loans to Ireland Bill — Clause 1 — Interest Rate to be Charged on United Kingdom Loans to Ireland — 15 Dec 2010 at 17:15
The majority of MPs voted against requiring the interest rate to be charged on loans of up to £3,250 million from the UK to Ireland be determined by the House of Commons.
MPs were considering the Loans to Ireland Bill. The amendment rejected in this vote was:
- Amendment 6, page 1, line 18, at end insert-
- '(7A) Before determining the interest to be charged on any payments under this Act, the Treasury must specify the rate of interest by order; and the Treasury may not make such an order unless-
- (a) the House of Commons has determined by resolution the rate of interest to be charged; and
- (b) the order provides for that specified rate to be charged.'
MPs were considering authorising loans of up to £3,250 million to Ireland, this amendment would have required the House of Commons to approve the interest rate to be charged.
The explanatory notes to the Bill included an assurance:
- The UK will receive interest payments over and above interest paid to finance the loan.
-  Parliament's webpage on the Loans to Ireland Bill (now an Act)
-  Explanatory notes to the Loans to Ireland Bill (PDF)
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||245 (+1 tell)||23 (+2 tell)||2||89.2%|
|LDem||46 (+1 tell)||0||0||82.5%|