‘(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.