text_body: --- DIVISION TITLE ---
  
  Charter for Budget Responsibility - Reducing Public Borrowing - Cap on Welfare Spending
  
  --- MOTION EFFECT ---
  
  
  
  
  
  @ MP voted aye against reducing public borrowing and against capping welfare spending.
  @ MP voted no for reducing public borrowing and for capping welfare spending.
  
  
  The majority of MPs voted in favour of reducing public borrowing and in favour of capping welfare spending.
  
  The motion rejected by the majority of MPs in this vote was:
  
  :That this House
  :''calls on the Government'' to withdraw the Charter for Budget Responsibility: Autumn 2015 update, which was laid before this House on 12 October 2015, and to lay before the House at the earliest opportunity an alternative update which provides the basis for stabilising the UK economy and providing long-term investment for growth.
  
  
  The Charter for Budget Responsibility: autumn 2015 update[1] states:
  
  :The Treasuryâs objectives for fiscal policy are to:
  :ensure sustainable public finances that support confidence in the economy, promote intergenerational fairness, and ensure the effectiveness of wider  government policy 
  :support and improve the effectiveness of monetary policy in stabilising  economic fluctuations 
  
  Under the heading "Mandate for fiscal policy" the document continues:
  
  In normal times, once a headline surplus has been achieved, the Treasuryâs mandate for fiscal policy is:
  :a target for a surplus on public sector net borrowing in each subsequent year
  For the period outside normal times from 2015-16 the Treasuryâs mandate for fiscal policy is:
  :a target for a surplus on public sector net borrowing by the end of 2019-20
  
  The previous mandate for fiscal policy was included in the Autumn 2014 Charter for Budget Responsibility Update[2] was:
  
  :a forward - looking aim to achieve cyclically - adjusted current balance by the end of the third year of the rolling, 5-year forecast period.
  
  
  The autumn 2015 update which was the subject of this vote added that for this period until 2019-20, the Treasuryâs mandate for fiscal policy is supplemented by:
  :a target for public sector net debt as a percentage of GDP to be falling in each year
  
  The charter also contains a section on capping welfare spending, 
  :To ensure that expenditure on welfare remains sustainable, the Treasuryâs mandate for fiscal policy is further supplemented by:
  :the cap on welfare spending, at a level set out by the Treasury in the most recently published Budget report, over the rolling 5-year forecast period, to ensure that expenditure on welfare is contained within a predetermined ceiling.
  
  The section on the welfare cap remained unchanged following the approval of the autumn 2015 update. 
  
  
  See also:: [http://www.publicwhip.org.uk/division.php?date=2015-01-13&number=129 Vote on  Charter for Budget Responsibility: Autumn Statement 2014 Update] â 13 Jan 2015.
  
  
  The March 2015 budget[3] states the 2015-16 Welfare Cap is Â£119.7bn and gives forecast spending in the scope of the cap in that year as Â£120.6bn
  
  ==
  
  
  * [1] [http://data.parliament.uk/DepositedPapers/Files/DEP2015-0739/PU1849_OBR_charter_autumn_update_final_web.pdf Charter for Budget Responsibility: autumn 2015 update]
  * [2] [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/386973/charter_for_budget_responsibility_AS2014_web.pdf Autumn 2014 Charter for Budget Responsibility Update]
  * [3] [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/416330/47881_Budget_2015_Web_Accessible.pdf Budget document, March 2015]
  
  
  
  
  
  
  
  
  
  
  
  
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  