New Clause 5 - Review of alternatives to the abolition of the lifetime allowance charge

Finance (No. 2) Bill – in the House of Commons at 3:30 pm on 19 April 2023.

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Votes in this debate

“(1) The Chancellor of the Exchequer must, within six months of this Act being passed—

(a) conduct a review of the impact of the abolition of the lifetime allowance charge introduced by section 18 of this Act and other changes to tax-free pension allowances introduced by sections 19 to 23 of this Act, and

(b) lay before the House of Commons a report setting out recommendations arising from the review.

(2) The review must make recommendations on how the policies referred to in subsection (1)(a) could be replaced with an alternative approach that provided equivalent benefits only for NHS doctors.”—(James Murray.)

This new clause requires the Chancellor to review the impact of the tax-free pension allowance changes and to recommend an alternative approach targeted at NHS doctors.

Brought up, and read the First time.

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

Division number 214 Finance (No. 2) Bill — New Clause 5 - Review of alternatives to the abolition of the lifetime allowance charge

Aye: 218 MPs

No: 292 MPs

Aye: A-Z by last name

Tellers

No: A-Z by last name

Tellers

The Committee divided: Ayes 218, Noes 294.

Question accordingly negatived.