New Clause 10 - Assessment of annual investment allowance

Finance (No. 2) Bill – in the House of Commons at 3:45 pm on 1 December 2021.

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Votes in this debate

  • Division number 127
    A majority of MPs voted not to require a report on tax incentives to invest in plant and machinery, and on how their impact might have been impacted by remaining in the EU, or leaving the union under different terms.

‘The Government must publish within 12 months of this Act coming into effect an assessment of—

(a) how much the changes to the annual investment allowance under section 12 of this Act will affect GDP in the event of the Finance Act coming into effect, and

(b) how the same changes would have affected GDP had the UK—

(i) remained in the European Union, and

(ii) left the European Union without a Future Trade and Investment Partnership.’—(Richard Thomson.)

This new clause would require an assessment of the effects of the provisions in clause 12 on GDP in different scenarios.

Brought up, and read the First time.

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

Division number 127 Finance (No. 2) Bill — New Clause 10 — Assessment of Annual Investment Allowance — Impact of Leaving the EU

A majority of MPs voted not to require a report on tax incentives to invest in plant and machinery, and on how their impact might have been impacted by remaining in the EU, or leaving the union under different terms.

Aye: 52 MPs

No: 305 MPs

Aye: A-Z by last name

Tellers

No: A-Z by last name

Tellers

Absent: 286 MPs

Absent: A-Z by last name

The Committee divided: Ayes 52, Noes 307.

Question accordingly negatived.