The Finance (No. 2) Bill passed Second Reading 313 to 236 following a division. (Division 195)
The Finance (No. 2) Bill 2016-17
Summary of the Bill
The Finance (No. 2) Bill affects the national debt, public revenue and taxation. The Bill includes provisions for changes to income tax, a soft drinks industry levy, and more.
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.
About the Bill and the Budget
Each year the Chancellor of the Exchequer presents the Budget, which contains all the tax measures for the year ahead. The statutory provisions to give effect to these tax measures are set out in a single Bill: the annual Finance Bill.
The Budget motions which will serve as the founding resolutions for the Finance (No. 2) Bill were agreed upon by the House of Commons at the end of the Budget debate on Tuesday 14 March.
The Chancellor made a statement on Class 4 National Insurance Contributions on Wednesday 15 March, updating the House on changes to Government policy since the Budget motions were agreed.
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.
The Library has published a briefing paper for Second Reading.
What happens at Second Reading?
At Second Reading the House debates the whole principle of 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 pass to Committee stage for detailed 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.
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