Chief Secretary to the Treasury, Danny Alexander, opened the debate on the second reading. Shadow Chief Secretary to the Treasury, Chris Leslie, moved a reasoned amendment on behalf of the Opposition.
The reasoned amendment to the second reading of the Bill was negatived on division. (Ayes 241 votes, Noes 291 votes, Division 241).
The second reading of the Bill was agreed on division. (Ayes 292 votes, noes 235 votes, Division 242).
A carry over motion was agreed on division. The Bill will be resumed in the next session of Parliament if proceedings on the Bill have not been completed in this session. (Ayes 273 votes, Noes 223 votes, Division 243).
Summary of the Finance (No.2) Bill
This Bill seeks 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 inconnection with finance.
Progress of the Bill
The Bill was presented to Parliament on 25 March 2014. This is known as the first reading and there was no debate on the Bill at this stage.
Keep up to date with all the proceedings and documentation, including amendment papers, on the Finance (No.2) Bill and find out how a bill becomes an Act of Parliament.
The document linked to below includes details on tax measures to be legislated in Finance Bill 2014, or that will otherwise come into effect in 2014-15. It also provides details of proposed tax changes announced at Budget 2014 to be legislated in Finance Bill 2015.
House of Commons Library analysis
The House of Commons Library produces briefing papers to inform MPs and their staff of key issues. The papers contain factual information and a range of opinions on each subject, and aim to be politically impartial.
What happens at second reading?
At second reading the House debates the whole principle of the bill. It usually takes place no sooner than two weekends after first reading.
The Member in charge or the Minister moves the motion 'that the bill be now read a second time'. MPs then debate the bill.
At the end of the debate the Speaker determines whether there are any objections to the motion being debated and asks for the Ayes and Noes.
Members voice their opinion, and if no objections are made, the bill passes second reading without a vote. If the Speaker believes Members have voiced disagreement, a division is called and a vote taken.
What happens after second reading?
If the motion at second reading is agreed to, the Bill will go to a Public Bill Committee for consideration.
Watching proceedings from the public gallery
UK residents and overseas visitors can watch proceedings in the House of Commons by visiting the public gallery.
This article was produced by the Commons Digital Outreach Team. Follow the @HouseofCommons on Twitter for updates on the UK House of Commons Chamber.