Finance Bill 2009

21 July 2009

Members of the Lords considered the second reading - and all remaining stages - of the Finance Bill on 20 July, discussing the Lords Economic Affairs Committee report on the Finance Bill 2009 at the same time

The Finance Bill is a Money Bill. The House of Lords cannot amend Money Bills - but can discuss them - so committee stage, report stage and third reading are just formalities.

The Finance Bill will enact many of the measures announced in the Budget which was presented by the Chancellor of the Exchequer, Alistair Darling, on 22 April 2009.

The Bill now awaits Royal Assent - when the Bill becomes an Act of Parliament (law) - which is scheduled for 21 July.

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