division_name: Deferred Divisions &#8212; Taxation of the financial sector
motion: <p class="indent" pid="a.449.1/1" pwmotiontext="yes">That this House takes note of European Union Document No. 15282/10 and Addendum, relating to financial sector taxation; recognises that decisions regarding direct taxes are primarily a matter for sovereign governments; supports the timely action the Government has already taken to introduce a permanent levy on bank balance sheets to ensure that banks make a full and fair contribution in respect of the potential risks they pose to the wider economy; notes that the Government continues to explore the costs and benefits of financial activities taxes and will work with international partners to secure agreement; and further supports the Government's position that an EU-wide financial transaction tax could lead to the relocation of financial services outside the EU.</p>
  
  <p pid="a.449.1/2" pwmotiontext="yes"><i> The House divided:</i> Ayes 295, Noes 223.</p>