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V1052 – Banking (No. 2) Bill 2016 Watch

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  • View Poll Results: Should this bill be passed into law?
    As many are of the opinion, Aye
    84.78%
    On the contrary, No
    10.87%
    Abstain
    4.35%

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    V1052 – Banking (No. 2) Bill 2016, TSR Labour Party

    Banking (No. 2) Bill 2016
    An Act to remove the banking corporation tax surcharge

    BE IT ENACTED by the Queen’s most Excellent Majesty, by and with the advice and consent of the Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

    1: Repeals

    Finance (No. 2) Act 2015, section 17 and Schedule 3 are repealed.

    2: Commencement, Short Title and Extent

    (1) This Bill may be cited as the Banking (No. 2) Act 2016;
    (2) This Bill shall extend to the United Kingdom; and
    (3) Shall come into force on the 1st April 2017.


    Notes
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    The purpose of the banking corporation tax surcharge was to ensure that banks pay to cover the externality imposed on the public exchequer through risky strategies. In the wake of the passage of the Banking Act 2016 (V1019), that externality is significantly smaller, if not completely gone. It therefore does not make sense any longer to discriminate against the banking sector, and it is important to ensure our finance sectors are as competitive as possible.

    Original Act: http://www.legislation.gov.uk/ukpga/2015/33/contents
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    Aye. A sensible measure, which the Tories would be putting politics ahead of policy if they voted against.
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    Saracen's Fez can you please change my 'no' to 'aye'?
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    (Original post by thehistorybore)
    Saracen's Fez can you please change my 'no' to 'aye'?
    One No has been changed to an Aye.
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    Saracen's Fez If at all possible, could you change my vote to an aye. Thank you.
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    (Original post by balanced)
    Saracen's Fez If at all possible, could you change my vote to an aye. Thank you.
    One No has been changed to an Aye.
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    I am not against what this bill does, but I am against one line bills for clauses which should be included in previous bills; I voted no on that principle.
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    Ayes to the right: 39
    Noes to the left: 5
    Abstentions: 2

    The Ayes have it! The Ayes have it! Unlock!

    Turnout: 92%
 
 
 
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Updated: September 26, 2016
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