New Clause 7 - Review of effects of sections 50 and 51 on housing market

Finance Bill – in the House of Commons at 5:30 pm on 11 December 2024.

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Votes in this debate

“(1) The Chancellor of the Exchequer must, within six months of this Act being passed, publish an assessment of the impact of the changes introduced by sections 50 and 51 of this Act, on the housing market in England and Northern Ireland.

(2) The assessment in subsection (1) must consider—

(a) the effects of the provisions of sections 50 and 51 of this Act on the demand for houses in each region within England and Northern Ireland, and

(b) the implications for the housing market of the provisions of sections 50 and 51 of this Act.”—(James Wild.)

This new clause requires the Chancellor to review the impact increased rates of stamp duty for additional dwellings are having on the housing market in England and Northern Ireland.

Brought up, and read the First time.

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

Division number 68 Finance Bill Committee: New Clause 7

Aye: 104 MPs

No: 311 MPs

Aye: A-Z by last name

Tellers

No: A-Z by last name

Tellers

The Committee divided: Ayes 104, Noes 313.

Question accordingly negatived.

The Deputy Speaker resumed the Chair.

Bill (Clauses 7 to 12, 15 to 18 and 47 to 53 and Schedules 1 to 3) reported (Standing Order No. 83D(6)), without amendment, and ordered to lie on the Table.