Finance (No.3) Bill report stage

06 July 2011

The House of Commons held the third day of the report stage and third reading of the Finance (No.3) Bill on Tuesday 5 July.

Finance (No.3) Bill

The Finance (No.3) Bill is the third finance bill introduced during the 2010-12 session of Parliament. The Bill will enact many of the measures announced in the Budget which was presented by the Chancellor of the Exchequer, George Osborne, on 23 March 2011.

The formal description of the Finance Bill is 'a Bill to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.'

Keep up to date with all the proceedings and documents on the Finance (No.3) Bill. Also find out how a Bill becomes an Act of Parliament.

Budget 2011

Chancellor of the Exchequer, George Osborne MP, made his Budget statement to the House of Commons on Wednesday 23 March 2011.

Day one: Tuesday 28 June

MPs considered New Clauses 1, 5, 6, 9 and 10.

New Clause 1 related to pensioner tax relief for medical insurance, the Clause was read a first time and was withdrawn.

New Clause 5 related to the transfer of personal allowances between spouses, the Clause was read a first time and was negatived on a division (Ayes 23; Noes 473).

New Clause 6 related to the rate of value add tax (VAT), the Clause was read a first time and was withdrawn.

New Clause 9 related to Value Added Tax (Change of Rate) Order 2011, the Clause was read a first time and was negatived on a division (Ayes 10; Noes 293).

New Clause 10 related to VAT, the Clause was read a first time and negatived on a division (Ayes 159; Noes 295).

Watch and read the first day of the report stage on Parliament TV and in Commons Hansard.

Day two: Monday 4 July

MPs considered New Clauses 11 and 12, and Amendment 10.

New Clause 11 related to high cost credit lending, the Clause was read a first time and was negatived on a division (Ayes 228; Noes 273).

New Clause 12 related to a report on captial allowances, the Clause was read a first time and was withdrawn.

Amendment 10 was negatived on a division (Ayes 229; Noes 298)

Watch and read the second day of the report stage on Parliament TV and in Commons Hansard.

Day three: Tuesday 5 July

MPs condisered the following amendments.

Amendment 13 was negatived on a division (Ayes 215; Noes 288)

Amendment 31 was negatived on a division (Ayes 25; Noes 279)

Amendment 12 was negatived on a division (Ayes 217; Noes 276)

Amendments 1-2, 8, 22-29 and 32-50 were agreed.

The Bill received third reading on a division (Ayes 285; Noes 225).

Watch and read the third day of the report stage and third reading on Parliament TV and in Commons Hansard. The Bill will now be considered by the House of Lords.

Image: iStockphoto 

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