[N]o man [should] be compelled to make or yield any gift, loan, benevolence, tax, or such like charge, without common consent by act of Parliament.

What is the key idea in this passage?

The king must agree to any law Parliament passes.
There should be no taxation without representation.
The king can’t put someone in prison for no reason.
People cannot give each other gifts unless Parliament approves.

The key idea in this passage is that no man should be compelled to make or yield any gift, loan, benevolence, tax, or such like charge without common consent by act of Parliament, which implies that there should be no taxation without representation.

The key idea in this passage is: There should be no taxation without representation.