To people who understand and follow the Westminster system and British politics in detail, and know what the normal response to such debates is - which is not to dignify them by responding to them.
This vote does matter in a sense - it shows that the Labor Party has a lot of support within it for recognising Palestine as a state. That's significant, because Labor could win government at the next election.
But it doesn't say anything about the stance of the current British government, or about current British policy.
Some in the media - especially those who would like to stir up trouble for David Cameron and his party (for whatever reason) are trying to paint this as more significant than it is. And it's not that hard to do, because most people don't understand the system that well. They hear 'Parliamentary Vote' and think they are all important. A lot of them aren't (Early Day Motions, Adjournments Motions, and Backbench Business among them).
That’s not an answer. Who would judge the government as “panicking” if they moved to suppress a vote on the state of Palestine?
Letting the Labour Party run amuck bespeaks an abandonment of rule of law. The significance is not lost on Britain’s allies.