The Culture of the Banking Industry and Failure to Prevent the Facilitation of Tax Evasion

Criminal Finances Bill – in the House of Commons at 5:00 pm on 21st February 2017.

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Votes in this debate

(1) The Secretary of State must undertake a review into the extent to which banking culture contributed to the failure to prevent the facilitation of tax evasion in the banking sector.

(2) The review must consider, but shall not be limited to, the following issues—

(a) the impact of culture change on decision making senior executive and board level;

(b) the pressure on staff to meet performance targets;

(c) how allegations of tax evasion are reported and acted on.

(3) The review must set out what steps the UK Government intends to take to ensure that banking culture is not facilitating tax evasion.

(4) In carrying out this review, the Secretary of State must consult—

(a) devolved administrations;

(b) HMRC;

(c) the Serious Fraud Office;

(d) the Financial Conduct Authority;

(e) interested charities, and

(f) anyone else the Secretary of State deems appropriate.

(5) The Secretary of State shall lay a copy of the review before the House of Commons within six months of this Act receiving Royal Assent.”—(Richard Arkless.)

Brought up, and read the First time.

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

The House divided:

Ayes 241, Noes 300.

Division number 163 Criminal Finances Bill — The Culture of the Banking Industry and Failure to Prevent the Facilitation of Tax Evasion

Aye: 241 MPs

No: 300 MPs

Ayes: A-Z by last name

Tellers

Nos: A-Z by last name

Tellers

Question accordingly negatived.

Clause 9