Finance Bill — Clause 1 — Report on Impact of Additional Rate of Income Tax for Income Over £150,000 — 1 Jul 2013 at 17:30
The majority of MPs voted against requiring a report on the impact of changing the additional rate of income tax. At the time of the vote, during the 2013-14 tax year this was charged at a rate of 45% on income over £150,000 per year; prior to that, since its introduction in 2010-11 the rate had been 50%. The report the majority of MPs voted against would have reviewed the impact of both the rate cut for 2013-14 and of increasing the rate to back 50% for 2014/15.
- (1) The Chancellor of the Exchequer shall, within three months of the passing of this Act, publish a report on the additional rate of income tax.
- (2) This report shall review the impact upon Exchequer receipts of setting the additional rate to 50 per cent. in the tax year 2014-15.
- (3) The report shall review what impact reducing the additional rate for 2013-14 will have on the amount of income tax currently paid by those with taxable incomes of—
- (a) over £150,000 per year; and
- (b) over £1,000,000 per year.
- (4) The report shall review what impact reducing the additional rate for 2013-14 will have on the level of bonuses awarded in the financial sector in April 2013.’.
-  Income Tax Rates and Allowances - HMRC
-  RATES OF INCOME TAX: 1990-91 TO 2013-14 - HMRC
-  Parliament's webpage on the Finance Bill (now the Finance Act 2013)
-  Finance Bill as introduced 28 March 2013
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||249 (+1 tell)||0||0||82.0%|
|Lab||0||218 (+2 tell)||0||85.3%|
|LDem||41 (+1 tell)||0||0||75.0%|