text_body: --- DIVISION TITLE ---
  
  Finance Bill - New Clause 12 - Rate of VAT
  
  --- MOTION EFFECT ---
  
  @ MP voted aye to cut VAT from 20% to 17.5%
  @ MP voted no against cutting VAT from 20% to 17.5%
  
  The majority of MPs voted against a proposal to cut VAT from 20% to 17.5% and keep it at that rate until the UK economy returns to strong growth. 
  
  The text of the rejected new clause was:
  
  :(1) In section 2(1) of the Value Added Tax Act 1994 (Rate of VAT) for â20 per cent.â substitute â17.5 per cent.â.
  
  :(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.â.
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  