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687

 

SUPPLEMENT TO THE VOTES AND PROCEEDINGS

 
 

Monday 4 July 2011

 

Report Stage Proceedings

 

Finance (No. 3) Bill, As Amended


 

[SECOND Day]


 

New Clauses

 

High cost credit lending

 

Ed Balls

 

Ms Angela Eagle

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

Stella Creasy

 

Negatived on division  NC11

 

To move the following Clause:—

 

‘The Government shall lay before Parliament a review of all taxation measures

 

contained in this Act that are applicable to those judged by the Financial Services

 

Authority (or its successor body) to engage in high cost credit lending. This

 

review shall consider the following matters—

 

(a)    

the nature of the high cost credit market and the proliferation of lending

 

practices which are detrimental to consumers and or competition in the

 

provision of credit to consumers;

 

(b)    

the impact that taxation could have on the provision of high cost credit in

 

the UK which is detrimental to consumers and or competition in the

 

provision of credit to consumers;

 

(c)    

whether changes to taxation could discourage lending in a manner which

 

is detrimental to consumers and undermines competition in the provision

 

of credit to consumers; and

 

(d)    

other measures relevant to the high cost credit lending sector that may

 

prevent consumer detriment.’.

 



 
 

Report Stage Proceedings: 4 July 2011                  

688

 

Finance (No. 3) Bill, continued

 
 

Report on capital allowances

 

Nigel Mills

 

Withdrawn  NC12

 

To move the following Clause:—

 

‘The Chancellor shall direct the Office of Tax Simplification to report by 31

 

March 2012 on the options for simplifying or replacing the capital allowances

 

regime with a view to ensuring businesses obtain tax relief for capital assets over

 

a period more closely matched to the useful life of those assets.’.

 


 

Windfall tax on nuclear power operators

 

Caroline Lucas

 

Jonathan Edwards

 

Not selected  NC13

 

To move the following Clause:—

 

‘The Treasury shall by regulations recover all profits to operators of nuclear

 

power plants resulting from the Carbon Price Support Mechanism through a

 

windfall tax designed for that purpose.’.

 


 

Group filing for corporation tax

 

Nigel Mills

 

Not called  NC14

 

To move the following Clause:—

 

‘The Chancellor shall direct the Office of Tax Simplification to report by 31

 

March 2012 on the potential for the introduction of a consolidated corporation tax

 

filing for UK-resident companies meeting the current definition of a group for

 

corporation tax purposes, to include an assessment of the potential cost savings

 

for companies and HMRC, and the potential for reducing tax avoidance.’.

 


 

Value Added Tax (Reduced Rate) Order 2011

 

Hywel Williams

 

Jonathan Edwards

 

Not selected  NC15

 

To move the following Clause:—

 

‘(1)    

The Chancellor of the Exchequer shall make an order to amend Schedule 7A of

 

the Value Added Tax Act 1994 (Charge at Reduced Rate) to include maintenance


 
 

Report Stage Proceedings: 4 July 2011                  

689

 

Finance (No. 3) Bill, continued

 
 

and home improvement work as services for which VAT should be charged at a

 

reduced rate of 5 per cent..

 

(2)    

“Maintenance and home improvement work” means improvement work carried

 

out on a property which is—

 

(a)    

a single household dwelling,

 

(b)    

a multiple occupancy dwelling,

 

(c)    

a building, or part of a building, which, when it was last lived in, was used

 

for a relevant residential purpose and is classed as residential, or

 

(d)    

a building where a change to residential use has been granted.

 

(3)    

This Order shall be known as the the Value Added Tax (Reduced Rate) Order

 

2011 and shall come into force on 30 August 2011.’.

 


 

Temporary reduction to VAT rate

 

Ed Balls

 

Ms Angela Eagle

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

Not selected  NC16

 

To move the following Clause:—

 

‘(1)    

In section 2(1) of the Value Added Tax Act 1994 (Rate of VAT) for “20 per cent.”

 

substitute “17.5 per cent.”.

 

(2)    

Subsection (1) shall have effect from Royal Assent and shall expire at such time

 

as the Government presents to Parliament a report stating that the UK economy

 

has returned to strong growth.’.

 


 

Ed Balls

 

Ms Angela Eagle

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

Negatived on division  10

 

Page  1,  line  9  [Clause  1],  at end insert—

 

‘(3)    

By 31 March 2012 the Office of Budget Responsibility, in consultation with

 

HMRC, will report to Parliament on the revenue of the 50 per cent. rate of income

 

tax and its impact on the UK economy.’.

 

John McDonnell

 

Not called  14

 

Page  1,  line  9  [Clause  1],  at end insert—

 

‘(3)    

A report on the impact of the current rates of income tax on inequality in the

 

United Kingdom, also taking into consideration all other direct and indirect taxes

 

including duties and excises, council taxes and mandatory charges for the use of

 

cars and televisions and making specific reference to the overall tax rate of

 

taxpayers grouped by decile in the United Kingdom and by each individual


 
 

Report Stage Proceedings: 4 July 2011                  

690

 

Finance (No. 3) Bill, continued

 
 

constituent country shall be prepared by HM Treasury and laid before the House

 

of Commons not later than 1 December 2011.’.

 

Mr Frank Field

 

Mr David Blunkett

 

John Mann

 

Kate Hoey

 

John McDonnell

 

Kate Green

 

Not called  30

 

Page  1,  line  9  [Clause  1],  at end insert—

 

‘(3)    

All public sector employees whose earned income does not exceed £21,000 shall

 

be entitled to a £250 reduction in tax liability for the tax year 2011-12.’.

 

Bill to be further considered tomorrow

 


 
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