text_body: --- DIVISION TITLE ---
  
  Budget Resolution 28 - Bank Levy
  
  --- MOTION EFFECT ---
  
  @ MP voted aye to narrow the scope of the Bank Levy tax so it is calculated only on the basis of a bank's UK assets; excluding overseas activities of UK headquartered banking groups from the charge. 
  @ MP voted no against narrowing the scope of the Bank Levy tax so it is calculated only on the basis of a bank's UK assets; against excluding overseas activities of UK headquartered banking groups from the charge. 
  
  
  The majority of MPs voted to narrow the scope of the Bank Levy tax so it is calculated only on the basis of a bank's UK assets; excluding overseas activities of UK headquartered banking groups from the charge. 
  
  The motion supported by the majority of MPs in this vote was:
  
  :That provision may be made amending [http://www.legislation.gov.uk/ukpga/2011/11/schedule/19/enacted Schedule 19 to the Finance Act 2011], including (notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills) provision taking effect in a future year.
  
  Support for this motion enables the proposed changes to the Bank Levy included in the budget to continue on their path to becoming law. 
  
  One of the budget documents[3] stated:
  
  :As announced at Summer Budget 2015 and confirmed at Autumn Statement 2016,  the government will change the Bank Levyâs scope so that UK headquartered banks are levied only on their UK balance sheet liabilities. Minor changes will also be made to the administration of the Bank Levy. [3]
  
  The Explanatory notes to proposed legislation amending the Bank Levy[4] state:
  
  :For periods of account ending on or after 1 January 2021, bank levy will  be chargeable only on equity and liabilities recognised on the UK balance sheets of banks and building societies. 
  
  The main budget document the "red book"[5] stated bank levy income of Â£3bn in 2016-7 was forecast to drop to Â£1.3bn by 2022-23. 
  
  The Bank Levy was introduced by Schedule 19 of the Finance Act 2011[6]; it raises an annual tax on banks calculated as a fraction of their total applicable liabilities and equities[7].
    
  
  * [1] [https://www.gov.uk/government/publications/autumn-budget-2017-documents/autumn-budget-2017 Budget Documents, Autumn Budget 2017]
  * [2] [https://publications.parliament.uk/pa/cm201719/cmagenda/Resolutions171122.pdf Budget resolutions, Resolutions to be moved by the
  Chancellor of the Exchequer, Wednesday 22 November 2017] 
  * [3] [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/662683/OOTLAR_pdf_v5.0.pdf Overview of Tax Legislation and Rates, Budget Document, 22 November 2017]
  * [4] [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/644265/bank_levy_EN.pdf Explanatory notes to proposed legislation amending the Bank Levy]
  * [5] [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/661480/autumn_budget_2017_web.pdf UK Treasury, Budget "Red Book", Autumn Budget 2017]
  * [6] [http://services.parliament.uk/bills/2013-14/financeno2.html Parliament's webpage on the Finance Bill]
  * [7] [http://www.legislation.gov.uk/ukpga/2011/11/schedule/19/enacted Schedule 19 of the Finance Act 2011 which provides for the Bank Levy]
  
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  