Orders of the Day — 24. Interest on Loans for Life Annuities (Withdrawal of Relief)

– in the House of Commons at 9:40 pm on 15th March 1999.

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Motion made, and Question put,

That—

(1) In section 365 of the Income and Corporation Taxes Act 1988, in subsection (1), before paragraph (a) there shall be inserted the following paragraph— (aa) that the loan was made before 9th March 1999;".

(2) After subsection (1) of that section there shall be inserted the following subsection— (1AA) Where—

  1. (a) a loan made on or after 9th March 1999 was made in pursuance of an offer made by the lender before that date; and
  2. (b) the offer was either in writing or evidenced by a note or memorandum made by the lender before that date,
the loan shall be deemed for the purposes of subsection (1)(aa) above to have been made before that date."

(3) The preceding paragraphs have effect for the year 1998–99 and subsequent years of assessment.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.

The House divided: Ayes 324, Noes 191.

Division No. 100][10.56 pm
AYES
Abbott, Ms DianeBorrow, David
Adams, Mrs Irene (Paisley N)Bradley, Keith (Withington)
Ainsworth, Robert (Cov'try NE)Bradley, Peter (The Wrekin)
Alexander, DouglasBradshaw, Ben
Allen, GrahamBrinton, Mrs Helen
Anderson, Janet (Rossendale)Brown, Rt Hon Gordon (Dunfermline E)
Armstrong, Ms Hilary
Atherton, Ms CandyBrown, Rt Hon Nick (Newcastle E)
Atkins, CharlotteBrown, Russell (Dumfries)
Austin, JohnBrowne, Desmond
Banks, TonyBuck, Ms Karen
Barnes, HarryBurden, Richard
Barron, KevinBurgon, Colin
Bayley, HughButler, Mrs Christine
Beard, NigelCampbell, Alan (Tynemouth)
Beckett, Rt Hon Mrs MargaretCampbell, Mrs Anne (C'bridge)
Begg, Miss AnneCampbell, Ronnie (Blyth V)
Bell, Stuart (Middlesbrough)Canavan, Dennis
Benn, Rt Hon TonyCaplin, Ivor
Benton, JoeCasale, Roger
Bermingham, GeraldCaton, Martin
Best, HaroldCawsey, Ian
Blears, Ms HazelChapman, Ben (Wirral S)
Blizzard, BobChaytor, David
Boateng, PaulChisholm, Malcolm
Clapham, MichaelHeal, Mrs Sylvia
Clark, Rt Hon Dr David (S Shields)Henderson, Ivan (Harwich)
Clark, Dr Lynda (Edinburgh Pentlands)Hepburn, Stephen
Heppell, John
Clarke, Charles (Norwich S)Hesford, Stephen
Clarke, Rt Hon Tom (Coatbridge)Hewitt, Ms Patricia
Clarke, Tony (Northampton S)Hill, Keith
Clelland, DavidHinchliffe, David
Clwyd, AnnHodge, Ms Margaret
Coaker, VernonHoey, Kate
Coffey, Ms AnnHome Robertson, John
Coleman, IainHoon, Geoffrey
Connarty, MichaelHope, Phil
Cook, Frank (Stockton N)Hopkins, Kelvin
Cook, Rt Hon Robin (Livingston)Howarth, Alan (Newport E)
Cooper, YvetteHowells, Dr Kim
Corbett, RobinHoyle, Lindsay
Corbyn, JeremyHughes, Ms Beverley (Stretford)
Corston, Ms JeanHughes, Kevin (Doncaster N)
Cranston, RossHumble, Mrs Joan
Crausby, DavidHurst, Alan
Cryer, Mrs Ann (Keighley)Hutton, John
Cryer, John (Hornchurch)Iddon, Dr Brian
Cummings, JohnIllsley, Eric
Cunningham, Rt Hon Dr Jack (Copeland)Jackson, Ms Glenda (Hampstead)
Jackson, Helen (Hillsborough)
Cunningham, Jim (Cov'try S)Jamieson, David
Dalyell, TamJenkins, Brian
Darling, Rt Hon AlistairJohnson, Alan (Hull W & Hessle)
Darvill, KeithJohnson, Miss Melanie (Welwyn Hatfield)
Davidson, Ian
Davies, Rt Hon Denzil (Llanelli)Jones, Helen (Warrington N)
Davies, Geraint (Croydon C)Jones, Ms Jenny (Wolverh'ton SW)
Dawson, Hilton
Dean, Mrs JanetJones, Jon Owen (Cardiff C)
Denham, JohnJones, Dr Lynne (Selly Oak)
Dismore, AndrewJones, Martyn (Clwyd S)
Dobbin, JimKaufman, Rt Hon Gerald
Dobson, Rt Hon FrankKeeble, Ms Sally
Donohoe, Brian HKeen, Alan (Feltham & Heston)
Doran, FrankKeen, Ann (Brentford & Isleworth)
Dowd, JimKelly, Ms Ruth
Drew, DavidKemp, Fraser
Dunwoody, Mrs GwynethKennedy, Jane (Wavertree)
Eagle, Angela (Wallasey)Khabra, Piara S
Eagle, Maria (L 'pool Garston)Kidney, David
Efford, CliveKilfoyle, Peter
Ellman, Mrs LouiseKing, Andy (Rugby & Kenilworth)
Ennis, JeffKing, Ms Oona (Bethnal Green)
Etherington, BillKingham, Ms Tess
Field, Rt Hon FrankKumar, Dr Ashok
Fisher, MarkLadyman, Dr Stephen
Fitzpatrick, JimLaxton, Bob
Fitzsimons, LornaLeslie, Christopher
Flint, CarolineLevitt, Tom
Follett, BarbaraLewis, Terry (Worsley)
Foster, Rt Hon DerekLinton, Martin
Foster, Michael Jabez (Hastings)Livingstone, Ken
Foster, Michael J (Worcester)Lloyd, Tony (Manchester C)
Galbraith, SamLock, David
Galloway, GeorgeLove, Andrew
Gerrard, NeilMcAllion, John
Gibson, Dr IanMcAvoy, Thomas
Gilroy, Mrs LindaMcCabe, Steve
Godman, Dr Norman AMcCafferty, Ms Chris
Godsiff, RogerMcDonagh, Siobhain
Goggins, PaulMacdonald, Calum
Golding, Mrs LlinMcDonnell, John
Griffiths, Jane (Reading E)McGuire, Mrs Anne
Griffiths, Nigel (Edinburgh S)McIsaac, Shona
Griffiths, Win (Bridgend)McKenna, Mrs Rosemary
Grocott, BruceMackinlay, Andrew
Grogan, JohnMcNulty, Tony
Hall, Patrick (Bedford)Mactaggart, Fiona
Hanson, DavidMcWalter, Tony
Harman, Rt Hon Ms HarrietMahon, Mrs Alice
Mallaber, JudySalter, Martin
Mandelson, Rt Hon PeterSavidge, Malcolm
Marek, Dr JohnSawford, Phil
Marsden, Gordon (Blackpool S)Sedgemore, Brian
Marsden, Paul (Shrewsbury)Sheerman, Barry
Marshall, David (Shettleston)Sheldon, Rt Hon Robert
Marshall-Andrews, RobertShipley, Ms Debra
Martlew, EricShort, Rt Hon Clare
Maxton, JohnSimpson, Alan (Nottingham S)
Meacher, Rt Hon MichaelSingh, Marsha
Michie, Bill (Shef'ld Heeley)Skinner, Dennis
Milburn, Rt Hon AlanSmith, Rt Hon Andrew (Oxford E)
Miller, AndrewSmith, Angela (Basildon)
Mitchell, AustinSmith, Jacqui (Redditch)
Moonie, Dr LewisSmith, John (Glamorgan)
Moran, Ms MargaretSmith, Llew (Blaenau Gwent)
Morgan, Ms Julie (Cardiff N)Snape, Peter
Morgan, Rhodri (Cardiff W)Soley, Clive
Morley, ElliotSouthworth, Ms Helen
Morris, Ms Estelle (B'harn Yardley)Spellar, John
Morris, Rt Hon John (Aberavon)Squire, Ms Rachel
Mountford, KaliStarkey, Dr Phyllis
Mudie, GeorgeStevenson, George
Mullin, ChrisStewart, David (Inverness E)
Murphy, Denis (Wansbeck)Stewart, Ian (Eccles)
Naysmith, Dr DougStinchcombe, Paul
O'Brien, Bill (Normanton)Stoate, Dr Howard
O'Brien, Mike (N Warks)Stott, Roger
O'Hara, EddieStrang, Rt Hon Dr Gavin
Olner, BillStraw, Rt Hon Jack
O'Neill, MartinStringer, Graham
Organ, Mrs DianaStuart, Ms Gisela
Osborne, Ms SandraSutcliffe, Gerry
Palmer, Dr NickTaylor, Rt Hon Mrs Ann (Dewsbury)
Pearson, Ian
Pickthall, ColinTaylor, David (NW Leics)
Pike, Peter LTemple-Morris, Peter
Plaskitt, JamesThomas, Gareth (Clwyd W)
Pollard, KerryThomas, Gareth R (Harrow W)
Pond, ChrisTimms, Stephen
Tippinq, Paddy
Pope, GregTodd Mark
Powell, Sir RaymondTouhig, Don
Prentice, Ms Bridget (Lewisham E)Trickett, Jon
Prentice, Gordon (Pendle)Truswell, Paul
Primarolo, DawnTurner, Dr Desmond (Kemptown)
Purchase, KenTurner, Dr George (NW Norfolk)
Quin, Rt Hon Ms JoyceTwigg, Derek (Halton)
Quinn, LawrieTwigg, Stephen (Enfield)
Radice, GilesVaz, Keith
Rammell, BillWalley, Ms Joan
Rapson, SydWard, Ms Claire
Raynsford, NickWareing, Robert N
Reid, Rt Hon Dr John (Hamilton N)Watts, David
Robertson, Rt Hon George (Hamilton S)White, Brian
Whitehead, Dr Alan
Robinson, Geoffrey (Cov'try NW)Wicks, Malcolm
Roche, Mrs BarbaraWilliams, Alan W (E Carmarthen)
Rooker, JeffWinnick, David
Rooney, TerryWinterton, Ms Rosie (Doncaster C)
Ross, Ernie (Dundee W)Wise, Audrey
Rowlands, TedWorthington, Tony
Roy, FrankWright, Anthony D (Gt Yarmouth)
Ruane, Chris
Ruddock, JoanTellers for the Ayes:
Russell, Ms Christine (Chester)Mr. Mike Hall and
Ryan, Ms JoanMr. Clive Betts.
NOES
Ainsworth, Peter (E Surrey)Baker, Norman
Allan, RichardBallard, Jackie
Amess, DavidBeggs, Roy
Ancram, Rt Hon MichaelBercow, John
Beresford, Sir Paul
Arbuthnot, Rt Hon JamesBody, Sir Ricard
Ashdown, Rt Hon PaddyBoswell, Tim
Atkinson, Peter (Hexham)Bottomley, Rt Hon Mrs Virginia
Brake, TomJenkin, Bernard
Brand, Dr PeterJohnson Smith,
Breed, ColinRt Hon Sir Geoffrey
Brooke, Rt Hon PeterJones, leuan Wyn (Ynys Môn)
Browning, Mrs AngelaJones, Nigel (Cheltenham)
Bruce, Ian (S Dorset)Keetch, Paul
Bruce, Malcolm (Gordon)Kennedy, Charles (Ross Skye)
Burns, SimonKey, Robert
Burstow, PaulKirkbride, Miss Julie
Butterfill, JohnKirkwood, Archy
Cable, Dr VincentLait, Mrs Jacqui
Campbell, Menzies (NE Fife)Lansley, Andrew
Cash, WilliamLeigh, Edward
Chapman, Sir Sydney (Chipping Barnet)Letwin, Oliver
Lewis, Dr Julian (New Forest E)
Chidgey, DavidLidington, David
Chope, ChristopherLilley, Rt Hon Peter
Clappison, JamesLivsey, Richard
Clark, Rt Hon Alan (Kensington)Lloyd, Rt Hon Sir Peter (Fareham)
Clifton-Brown, GeoffreyUwyd, Elfyn
Collins, TimLoughton, Tim
Cormack, Sir PatrickLuff, Peter
Cotter, BrianLyell, Rt Hon Sir Nicholas
Cran, JamesMacGregor, Rt Hon John
Cunningham, Ms Roseanna (Perth)MacKay, Rt Hon Andrew
Maclean, Rt Hon David
Curry, Rt Hon DavidMaclennan, Rt Hon Robert
Davey, Edward (Kingston)McLoughlin, Patrick
Davies, Quentin (Grantham)Major, Rt Hon John
Davis, Rt Hon David (Haltemprice)Maples, John
Day, StephenMaude, Rt Hon Francis
Dorrell, Rt Hon StephenMawhinney, Rt Hon Sir Brian
Duncan, AlanMay, Mrs Theresa
Duncan Smith, IainMoore, Michael
Evans, NigelMorgan, Alasdair (Galloway)
Ewing, Mrs MargaretMoss, Malcolm
Faber, DavidNicholls, Patrick
Fabricant, MichaelOaten, Mark
Fallon, MichaelÖpik, Lembit
Fearn, RonnieOttaway, Richard
Forsythe, CliffordPage, Richard
Forth, Rt Hon EricPaice, James
Foster, Don (Bath)Paterson, Owen
Fowler, Rt Hon Sir NormanPickles, Eric
Fox, Dr LiamPrior, David
Fraser, ChristopherRandall, John
Garnier, EdwardRedwood, Rt Hon John
George, Andrew (St Ives)Rendel, David
Gibb, NickRobathan, Andrew
Gill, ChristopherRobertson, Laurence (Tewk'b'ry)
Gillan, Mrs CherylRoe, Mrs Marion (Broxbourne)
Goodlad, Rt Hon Sir AlastairRoss, William (E Lond'y)
Gorman, Mrs TeresaRowe, Andrew (Faversham)
Gorrie, DonaldRuffley, David
Gray, JamesRussell, Bob (Colchester)
Green, DamianSt Aubyn, Nick
Greenway, JohnSalmond, Alex
Grieve, DominicSanders, Adrian
Gummer, Rt Hon JohnSayeed, Jonathan
Hague, Rt Hon WilliamShephard, Rt Hon Mrs Gillian
Hamilton, Rt Hon Sir ArchieShepherd, Richard
Hammond, PhilipSmith, Sir Robert (W Ab'd'ns)
Harris, Dr EvanSmyth, Rev Martin (Belfast S)
Harvey, NickSoames, Nicholas
Hawkins, NickSpelman, Mrs Caroline
Hayes, JohnSpicer, Sir Michael
Heald, OliverSpring, Richard
Heath, David (Somerton & Frome)Stanley, Rt Hon Sir John
Heathcoat-Amory, Rt Hon DavidSteen, Anthony
Horam, JohnStreeter, Gary
Howard, Rt Hon MichaelSwayne, Desmond
Howarth, Gerald (Aldershot)Swinney, John
Hughes, Simon (Southwark N)Syms, Robert
Hunter, AndrewTapsell, Sir Peter
Jack, Rt Hon MichaelTaylor, Ian (Esher & Walton)
Jackson, Robert (Wantage)Taylor, Rt Hon John D (Strangford)
Taylor, John M (Solihull)Whittingdale, John
Taylor, Matthew (Truro)Widdecombe, Rt Hon Miss Ann
Taylor, Sir TeddyWigley, Rt Hon Dafydd
Tonge, Dr JennyWilkinson, John
Tredinnick, DavidWilletts, David
Trend, MichaelWillis, Phil
Tyler, PaulWilshire, David
Winterton, Mrs Ann (Congleton)
Tyrie, AndrewWinterton, Nicholas (Macclesfield)
Wallace, JamesWoodward, Shaun
Wardle, CharlesYeo, Tim
Waterson, NigelYoung, Rt Hon Sir George
Webb, Steve
Wells, BowenTellers for the Noes:
Welsh, AndrewMrs. Eleanor Laing and
Whitney, Sir RaymondSir David Madel.

Question accordingly agreed to.