Opposition Day — House Building — Bankers' Bonus Tax — VAT on Work on Homes — 5 Sep 2012 at 18:59

The majority of MPs voted against levying a tax on bankers' bonuses to fund 25,000 affordable homes, against investing in infrastructure, and against cutting VAT on works on homes.

The majority of MPs voted to replace a motion, the effective element of which stated:

• That this House:
• calls on the Government to introduce a tax on bankers’ bonuses to fund the building of 25,000 additional affordable homes, to bring forward infrastructure investment, including for housing, and to cut VAT on home improvements, repairs and maintenance to five per cent for one year to help homeowners and create jobs.

with a motion stating:

• That this House
• welcomes the first Opposition Day debate on housing in this Parliament;
• notes that house building under the previous administration fell to its lowest peacetime level since the 1920s;
• further notes that house building starts in England were 29 per cent higher in 2011 compared with 2009;
• believes there is still more to do to get Britain building;
• further notes that housing is the most affordable for first-time buyers for a decade and mortgage payments are the lowest since 1997 as a direct consequence of the decisive action to tackle the deficit brought about by the previous administration;
• notes that the Coalition Government’s affordable housing programme will deliver 170,000 affordable homes by 2015 and leverage £19.5 billion of investment; and
• welcomes the steps being taken to increase house building and unlock stalled sites and the comprehensive programme to get empty homes back into productive use.”

Debate in Parliament | Source |