New Clause 27 - Review of Economic crime (anti-money laundering) levy

Finance (No. 2) Bill – in the House of Commons at 6:00 pm on 2nd February 2022.

Alert me about debates like this

Votes in this debate

  • Division number 181
    A majority of MPs voted not to require a report on the impact of a tax on financial and other bodies to fund tackling economic crime and on the potential impact that a register of beneficial owners of overseas entities that own UK property might have on that scheme.

‘(1) The Government must publish an impact assessment of the operation of the Economic crime (anti-money laundering) levy within six months of Royal Assent to this Act.

(2) The assessment carried out under subsection (1) must include an assessment of the contribution to the effectiveness of the levy that a register of beneficial owners of property would make.’—(Layla Moran.)

This new clause would require the Government to produce an impact assessment of the operation of the new Economic crime (anti-money laundering) levy, and assess how a register of beneficial owners of property would contribute to the effectiveness of the levy.

Brought up.

Question put, That the clause be added to the Bill.

Division number 181 Finance (No. 2) Bill — New Clause 27 — Review of Economic Crime (Anti-Money Laundering) Levy

A majority of MPs voted not to require a report on the impact of a tax on financial and other bodies to fund tackling economic crime and on the potential impact that a register of beneficial owners of overseas entities that own UK property might have on that scheme.

Aye: 230 MPs

No: 295 MPs

Ayes: A-Z by last name

Tellers

Nos: A-Z by last name

Tellers

Absent: 119 MPs

Absents: A-Z by last name

The House divided: Ayes 230, Noes 301.

Question accordingly negatived.