MPs debate the 2012 budget, day three

23 March 2012

Parliamentary Under-Secretary of State for Culture, Olympics, Media and Sport, Edward Vaizey, opened the third and final day of the House of Commons debate on the 2012 Budget on Monday 26 March.

Budget debate

There were three days of debate on the 2012 Budget. At the end of the debate the Commons was asked to passed resolutions on various aspects of taxation including national insurance, income and captial gains tax. All these resolutions will became part of the Government's 2012 Finance Bill.

Shadow Secretary of State for Culture, Media and Sport, Harriet Harman, responded during the debate on behalf of the Opposition.

Watch and read the debate and the views expressed by MPs on Parliament TV and in Commons Hansard. Also watch and read the first and second day of debate on Parliament TV and in Commons Hansard.

Budget Resolutions

Tax measures announced in the Budget, known as the Budget Resolutions, can be approved by the Commons to come into effect in law immediately. But the decisions to agree the resolutions themselves are taken at the end of the debate on the Budget.

Once the Commons has agreed the Budget Resolutions, the Finance Bill, which enacts the Chancellor of the Exchequer's Budget proposals for taxation, starts its passage through Parliament in the same way as any other Bill.

House of Commons Library Analysis

The House of Commons Library regularly produce briefing notes which inform MPs about key issues. The Library has produced two briefing papers on the background to the 2012 Budget.

Budget speech and further information

The Chancellor's Budget speech, HM Treasury documents and House of Commons Library analysis can be found in the news stories below.

The Parliament website has information about the history of the budget as a parliamentary occasion and frequenty asked question about budget speeches.

Debates

Debates are an opportunity for MPs to discuss government policy, proposed new laws and current issues. It allows MPs to voice the concerns and interests of their constituents.

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More news on: Economy and finance, Parliament, government and politics, Parliament, Taxation, Budget, Commons news, Economic policy, Economic situation, Public expenditure

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