New Clause 1 - Statement on efforts to support implementation of the Pillar 2 model rules

Finance (No. 2) Bill – in the House of Commons at 4:15 pm on 18 April 2023.

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‘(1) The Chancellor of the Exchequer must, within three months of this Act being passed, make a statement to the House of Commons on how actions taken by the UK Government since October 2021 in relation to the implementation of the Pillar 2 model rules relate to the provisions of Part 3 of this Act.

(2) The Chancellor of the Exchequer must provide updates to the statement at intervals after that statement has been made of—

(a) three months;

(b) six months; and

(c) nine months.

(3) The statement, and the updates to it, must include—

(a) details of efforts by the UK Government to encourage more countries to implement the Pillar 2 rules; and

(b) details of any discussions the UK Government has had with other countries about making the rules more effective.’—(James Murray)

This new clause would require the Chancellor to report every three months for a year on the UK Government’s progress in working with other countries to extend and strengthen the global minimum corporate tax framework for large multinationals.

Brought up, and read the First time.

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

Division number 209 Finance (No. 2) Bill — New Clause 1 - Statement on efforts to support implementation of the Pillar 2 model rules

Aye: 227 MPs

No: 305 MPs

Aye: A-Z by last name

Tellers

No: A-Z by last name

Tellers

The Committee divided: Ayes 227, Noes 306.

Question accordingly negatived.