New Clause 1 — Impact of changes to the bank levy rate and of the banking companies surcharge

Bill Presented — Devolution (London) Bill – in the House of Commons at 9:15 pm on 8th September 2015.

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Votes in this debate

  • Division number 66
    A majority of MPs voted against requiring a report on the impact of the reduction in bank levy rates and introduction of a surcharge on banking company profits.

‘(1) The Chancellor of the Exchequer shall, within three months of the passing of this Act, undertake a review of the overall impact of the changes made by sections 16 and 17 of, and schedules 2 and 3 to, this Act, on:

(a) the structure of bank balance sheets;

(b) the long-term tax revenue from the banking sector; and

(c) competition and diversity within the banking sector.

(2) The Chancellor of the Exchequer must lay a copy of the review before both Houses of Parliament.’—(Alison McGovern.)

Brought up, and read the First time.

Question put, That the clause be read a Second time.

The Committee divided:

Ayes 228, Noes 302.

Division number 66 Finance Bill — New Clause 1 — Report on Impact of Bank Levy Rate Reduction and Introduction of a Surcharge on Banking Company Profits

A majority of MPs voted against requiring a report on the impact of the reduction in bank levy rates and introduction of a surcharge on banking company profits.

Aye: 228 MPs

No: 302 MPs

Ayes: A-Z by last name

Tellers

Nos: A-Z by last name

Tellers

Absent: 116 MPs

Absents: A-Z by last name

Question accordingly negatived.

The Deputy Speaker resumed the Chair.

Bill (Clauses 16, 17, 43 and 45, and Schedules 2 and 3) reported, without amendment, and ordered to lie on the Table.