text_body: --- DIVISION TITLE ---
  
  Finance Bill - Reject Second Reading
  
  --- MOTION EFFECT ---
  
  @ MP voted aye against  measures in the 2011 Budget including reducing the threashold for paying higher rate income tax, increasing the income tax free personal allowance, reducing corporation tax and reducing the main rate of corporation tax from 27 to 26%.
  @ MP voted no in favour of the measures in the 2011 Budget including reducing the threashold for paying higher rate income tax, increasing the income tax free personal allowance, reducing corporation tax and reducing the main rate of corporation tax from 27 to 26%.
  
  The majority of MPs voted in favour of measures in the 2011 Budget which, among other measures:
  
  * imposes income tax for 2011-12
  * reduces the threshold at which higher rate income tax is paid from Â£37,401 to Â£35,001
  * increases the income tax free personal allowance from Â£6,475 to Â£7,475
  * reduces the main rate of corporation tax from 27 to 26 per cent
  * reduce the annual investment allowance (AIA) cap from Â£100,000 to Â£25,000. (The limit to which taxable profits can be reduced by the amount of investment)
  * to increase the rates of excise duty charged on spirits, beer, and wine
  * to introduce a reduced rate of general beer duty on lower strength beers.
  
  The motion rejected in this vote was:
  
  :That the amendment be made.
  
  The amendment in question would have replaced the motion:
  
  :That the Bill be now read a Second time.
  
  with 
  :That:
  :this House declines to give the Finance (No. 3) Bill a Second Reading because whilst the Minister of State for the Cabinet Office acknowledged that the country faces an âimmediate national crisis in the form of less growth and jobs than we needâ this Bill does not address it;
  :''because'' the economic approach set out by the Government in this Bill puts jobs and growth at risk;
  :''because'' the Bill cuts capital allowances to businesses who invest in growth;
  
  * [1] [http://services.parliament.uk/bills/2010-11/financeno3.html Parliament's webpage on the Finance Bill 2011 (now an act)]
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  