Stephen Timms

MP, East Ham

Profile photo: © Parliament (CC-BY 3.0)
East Ham Labour

Taxation of Banks

There have been votes in Parliament on taxation of banks. The "banking levy" is one such tax: it is charged annually based on the amount a bank holds in assets,.

Photo: bram_souffreau

Stephen Timms voted a mixture of for and against higher taxes on banks

TheyWorkForYou has automatically calculated this MP’s stance based on all of their votes on the topic. You can browse the source data on PublicWhip.org.uk.

All votes about higher taxes on banks:

  • On 26 Apr 2011: Stephen Timms voted against measures in the 2011 Budget including reducing the threashold for paying higher rate income tax, increasing the income tax free personal allowance, reducing corporation tax and reducing the main rate of corporation tax from 27 to 26%. Show vote
  • On 26 Apr 2011: Stephen Timms voted against measures in the 2011 Budget including reducing the threshold for paying higher rate income tax, increasing the income tax free personal allowance, reducing corporation tax and reducing the main rate of corporation tax from 27 to 26%. Show vote
  • On 5 Jul 2011: Stephen Timms voted against measures in the 2011 Budget including reducing the threshold for paying higher rate income tax, increasing the income tax free personal allowance, reducing corporation tax and reducing the main rate of corporation tax from 27 to 26%. Show vote
  • On 19 Nov 2013: Stephen Timms voted to increase the amount of free child care offered to parents of 3 and 4 year olds from 15 to 25 hours Show vote
  • On 25 Mar 2014: Stephen Timms voted against increasing the rate of the bank levy tax and against changes aimed at improving the operational efficiency of the levy. Show vote
  • On 23 Mar 2015: Stephen Timms voted against the the March 2015 budget which contained plans to spend £76bn more than was expected to be taken in and introduced a help to buy ISA, reduced corporation tax and increased spending on mental health by around £300m/year. Show vote
  • On 25 Mar 2015: Stephen Timms voted against a series of taxation related measures including increasing the personal income tax free allowance and increasing the threshold at which higher rate tax is charged. Show vote
  • On 21 Jul 2015: Stephen Timms was absent for a vote on Finance Bill 2015-16 — Decline Second Reading Show vote
  • On 21 Jul 2015: Stephen Timms was absent for a vote on Finance Bill 2015-16 — Second Reading Show vote
  • On 26 Oct 2015: Stephen Timms voted against the measures in the Finance Bill including against an increase in the income tax personal allowance, and against capping the rates of VAT and income tax at their existing rates until the next general election. Show vote
  • On 28 Nov 2017: Stephen Timms voted against narrowing the scope of the bank levy tax so it is calculated only on the basis of a bank's UK assets; against excluding overseas activities of UK headquartered banking groups from the charge. Show vote
  • On 11 Dec 2017: Stephen Timms voted against excluding overseas activities of UK headquartered banking groups from the bank levy, and against reducing stamp duty for first time buyers of homes in transactions of up to £500,000. Show vote
  • On 11 Dec 2017: Stephen Timms voted against excluding overseas activities of UK headquartered banking groups from the bank levy, and against reducing stamp duty for first time buyers of homes in transactions of up to £500,000. Show vote
  • On 18 Dec 2017: Stephen Timms voted against excluding certain overseas elements of UK banking groups from the bank levy annual tax. Show vote

Note for journalists and researchers: The data on this page may be used freely, on condition that TheyWorkForYou.com is cited as the source.

For an explanation of the vote descriptions please see the FAQ entries on vote descriptions and how the voting record is decided