Finance Bill — New Clause 14 — Report on Rate of Income Tax Applied to Incomes Over £150,000 — 1 Jul 2014 at 15:00
The majority of MPs voted against requiring a report on the additional rate of income tax.
The additional rate of income tax applies to income over £150,000. In April 2013 it was reduced from 50% to 45% and the latter was the rate at the time of the vote.
MPs were considering the Finance Bill. The proposed new clause which was rejected in this vote was titled Report on the additional rate of income tax and stated:
- ‘(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) The report shall set out the impact upon Exchequer receipts of setting the additional rate at 50 per cent in the tax year 2015-16.
- (3) The report shall set out the impact of reducing the additional rate for 2013-14 on the amount of income tax paid by—
- (a) all people who are liable for the additional rate;
- (b) those with taxable incomes of over £250,000 per year; and
- (c) those with taxable incomes of over £1,000,000 per year.
- (4) The report shall set out the impact of the reduction in the additional rate for 2013-14 on the level of bonuses awarded in April 2013 to employees in the financial sector.”
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||250 (+2 tell)||0||0||82.6%|
|Lab||0||216 (+2 tell)||0||84.5%|