Following agreement to the Budget Resolutions, the Finance (No. 2) Bill 2016-17 was brought in and given its formal First Reading.
Spring Budget Statement 2017
The Chancellor of the Exchequer, Philip Hammond, delivered the Spring Budget Statement to the House of Commons on Wednesday 8 March 2017.
Debate on the Budget Resolutions
Response from Leader of HM Opposition and debate on the Budget Resolutions: 8 March 2017
The Leader of Her Majesty's Official Opposition, Jeremy Corbyn, responded to the Budget Statement on 8 March 2017. This was followed by the first day of debate on the Budget Resolutions.
Debate on the Budget Resolutions: 9 March 2017
The debate on the Budget Resolutions continued on 9 March 2017. The Shadow Chancellor of the Exchequer, John McDonnell, responded to the Budget Statement.
Debate on the Budget Resolutions: 13 March 2017
The debate was opened by the Secretary of State for Foreign and Commonwealth Affairs, Boris Johnson. The Shadow Foreign Secretary, Emily Thornberry, responded on behalf of HM Opposition.
Debate on the Budget Resolutions: 14 March 2017
The debate was opened by the Secretary of State for Education, Justine Greening. The Shadow Secretary of State for Education, Angela Rayner, responded on behalf of HM Opposition.
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 background briefing papers on the Spring Budget 2017.
What happens after the Budget Statement?
Following the Budget Statement the Chancellor of the Exchequer moves a motion for the 'Amendment of the Law'. A debate then takes place on the Budget Resolutions and economic situation.
It is customary for the Leader of the Opposition, rather than the Shadow Chancellor, to respond to the speech given by the Chancellor of the Exchequer. The Shadow Chancellor makes his response the day after the Budget Statement.
Some measures in the Budget Statement are brought into effect on Budget day through agreement to a motion on the 'Provisional Collection of Taxes'.
At the end of the debate on the Budget MPs decide on the motion to amend the law and the Budget Resolutions. If the motions are agreed a Finance Bill founded on the resolutions is then brought in and given its formal First Reading.
Budget Resolutions can come into effect immediately if the House of Commons agrees to them at the end of the Budget debates, but they require the Finance Bill to give them permanent legal effect.
The Budget and annual Finance Bill: Parliamentary procedure
Find out more about the role of Parliament on taxation, the Budget and the annual Finance Bill.