- Posted by: Valerie Vaz MP
- Category: News
On Tuesday 21 March, on the final day of the Budget debate, the House was asked to agree the Budget resolutions.
There were two votes.
18. Pensions (lifetime allowance charge and annual allowance)
That provision may be made—
(a) abolishing the lifetime allowance charge,
(b) increasing the amount of the annual allowance in section 228 of the Finance Act 2004 to £60,000,
(c) replacing references to £240,000 with references to £260,000 in section 228ZA(1) and (3)(a) and (b) of that Act,
(d) replacing references to £4,000 with references to £10,000 in sections 227ZA to 228ZA of that Act, and
(e) amending provisions that confer transitional protection in connection with—
(i) the introduction of the lifetime allowance charge, or
(ii) reductions subsequently made in the amount of the lifetime allowance.
I voted against this Motion, which was passed, Ayes: 330, Noes: 233.
Budget Motion no. 36: Alcohol Duty.
That provision may be made for charging a duty of excise on alcoholic products that are produced in, or imported into, the United Kingdom.
We abstained on the second vote. The Budget Motion was passed, Ayes: 321, Noes: 64.