Finance (No. 2) Bill — New Clause 7 — Review of Stamp Duty Relief for First-Time Buyers — 21 Feb 2018 at 19:00
The majority of MPs voted against a review of reductions in stamp duty for first time buyers which meant nothing is payable on the first £300,000 of a transaction of up to £500,000.
MPs were considering the Finance Bill.
The proposed new clause rejected in this vote was titled: Review of relief for first-time buyers and stated:
- “(1) The Commissioners of Her Majesty’s Revenue and Customs shall undertake a review of the impact of the relief for first-time buyers introduced in Schedule 6ZA to FA 2003.
- (2) The review shall consider, in particular, the effects of the relief on—
- (a) the public revenue,
- (b) house prices, and
- (c) the supply of housing.
- (3) The Chancellor of the Exchequer must lay a copy of a report of the review under this section before the House of Commons no later than one calendar week prior to the date which he has set for his Autumn 2018 Budget Statement.”
The "relief" referred to is the reduction in stamp duty land tax for some first time buyers provided for via Section 41 of the Finance Act 2018.
The rejected new clause was accompanied by the following explanatory statement:
- This new clause requires a review to be published prior to the Autumn 2018 Budget on the impact of the relief for first-time buyers, including its effects on house prices and on the supply of housing.
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||296 (+2 tell)||0||0||94.0%|
|Lab||0||216 (+2 tell)||0||83.5%|