text_body: --- DIVISION TITLE ---
  
  Finance Bill - Third Reading
  
  --- MOTION EFFECT ---
  
  
  
  @ MP voted aye to support the 2010 Finance Bill which included an increase in VAT from 17.5% to 20% among other measures. 
  @ MP voted no to oppose the 2010 Finance Bill which included an increase in VAT from 17.5% to 20% among other measures. 
  
  The majority of MPs voted to approve the third reading of the Finance Bill[1] ie. for it to be passed by the House of Commons. 
  
  The Bill contained provisions intended to enact the changes to the tax and benefits system which had been announced in the coalition's emergency budget[2][3]. 
  
  
  The Bill included provisions to:
  
  * raise VAT from 17.5% to 20%
  * set the main rate of Corporation Tax at 27% for 2011/12, down from 28% in 2010[4].
  * increase the standard rate of insurance premium tax (IPT) from 5 per cent to 6 per cent and the higher rate of IPT from 17.5 per cent to 20 per cent, both with effect from 4 January 2011.   
  * introduce the power for Treasury ministers to repeal the restriction of pension tax relief to the basic rate for high income individuals, known as the âhigh income excess relief chargeâ. The charge is a tax on pension contributions applied to individuals whose gross income is over Â£150,000 per year. 
  * maintain the exemption from income tax for accommodation expenses paid or reimbursed to MPs
  
  ==
  
  
  
  *  [1] [http://services.parliament.uk/bills/2010-11/finance.html Finance Bill 2010-11]
  * [2] [http://www.theyworkforyou.com/debate/?id=2010-06-22a.166.2 George Osborne, Chancellor of the Exchequer, House of Commons Emergency Budget Speech 22 June 2010]. 
  * [3] [http://www.hm-treasury.gov.uk/junebudget_documents.htm June 2010 Budget Documents]
  * [4] [http://www.hmrc.gov.uk/softwaredevelopers/ct/appendixa-ratesoftax.pdf HMRC tax rates]
  
  
  
  
  
  
  
  
  
  
  
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  