Finance (No. 2) Bill — Third Reading — 2 Feb 2022 at 18:47
The majority of MPs voted for a range of tax and pensions provisions including keeping key income tax rates unchanged and raising the normal pension age to 57 from 6 April 2028.
The motion supported by a majority of MPs in this vote was:
- That the Bill be now read a Third time.
The passing of this motion enabled the Bill to continue on its path to becoming law.
The Bill included provisions:
- to impose income tax during the tax year 2022-23
- to set the 2022-2023 rates for income tax at: Basic rate - 20%; Higher rate - 40%; Additional rate - 45%. (No change on the previous year)
- to increase the tax rates on taxed dividend income.
- to retain the threshold for starting to tax interest on savings at £5,000.
- to introduce a new rule for businesses started after 31 March in a year, treating profits and losses arising in that year as arising in the following year.
- to increase the the normal minimum pension age to 57 from 6 April 2028
- to reduce taxes on bank profits
-  Parliament's webpage on the Finance (No. 2) Bill, Parliament.uk
-  The Finance (No. 2) Bill (as introduced), 4 November 2021, Parliament.uk
-  Explanatory notes to the Finance (No. 2) Bill, Parliament.uk
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 (Aye)||Minority (No)||Both||Turnout|
|Con||297 (+2 tell)||0||0||82.8%|
|Lab||0||165 (+2 tell)||0||83.9%|