text_body: --- DIVISION TITLE ---
  
  Summer Budget 2015
  
  --- MOTION EFFECT ---
  
  @ MP voted aye 
  @ MP voted no 
  
  The majority of MPs voted in favour of the summer 2015 budget which 
  
  MPs were debating the summer budget 2015[1] 
  
  The budget:
  
  * introduces a new national living wage to reach 60% of median earnings by 2020 (forecast to be over Â£9/hour by 2020). 
  * reduces the main corporation tax rate to 19% in 2017 and 18% in 2020,
  * raises the Annual Investment Allowance to Â£200,000 from January 2016
  * replaces student maintenance grants with loans
  * replaces the Dividend Tax Credit with a Dividend Tax Allowance of Â£5,000 
  * raises the effective inheritance tax threshold to Â£1 million
  * introduces a taper to the annual allowance for pensions tax relief for those with total income over Â£150,000
  * raises the age at which cars need their first MoT from three to four years.
  * restricts relief for mortgage interest for individual landlords to the basic rate of income tax
  * ends the permanent non-domicile status
  * increases the personal allowance to Â£11,000 in 2016-17 and the higher rate threshold to Â£43,000
  * doubles the free childcare entitlement from 15 hours to 30 hours a week for working parents of 3 and 4 year olds
  * freezes working-age benefits and Local Housing Allowances for 4 years, reduces rents in social housing by 1% a year for 4 years, and reduces the benefit cap
  * reduces the level of earnings at which a householdâs tax credits and Universal Credit award starts to be withdrawn for every extra pound earned from Â£6,420 to Â£3,850.
  * limits support provided to families through tax credits to 2 children (Child Benefit will continue to be paid at the same level for all children)
  
  
  
  The budget proposes spending of Â£742 billion and an income of Â£673 billion in 2015-16; a deficit of Â£69 billion.
  
  The motion being debated by MPs was technically on legislating to enact some of the proposals in the budget. The motion stated:
  
  :That
  :(1) It is expedient to amend the law with respect to the National Debt and the public revenue and to make further provision in connection with finance.
  
  :(2) This Resolution does not extend to the making of any amendment with respect to value added tax so as to provideâ
  :(a) for zero-rating or exempting a supply, acquisition or importation;
  :(b) for refunding an amount of tax;
  :(c) for any relief, other than a relief thatâ
  :(i) so far as it is applicable to goods, applies to goods of every description, and
  :(ii) so far as it is applicable to services, applies to services of every description.
  
  
  ==
  * [1] [https://www.gov.uk/government/publications/summer-budget-2015 Summer budget 2015 documents]
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  