Committee stage of the Finance Bill: day three

16 July 2010

The House of Commons held its three days of the Committee stage of the Finance Bill.

Monday 12 July

Tuesday 13 July

Thursday 15 July

Summary of the Bill

The Finance Bill encompasses all the changes to be made to tax law announced in the June 2010 Budget. 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.'

The Bill will enact many of the measures announced in the Budget which was presented by the Chancellor of the Exchequer, George Osborne, on 22 June 2010.

Committee of the whole House

When a Bill passes its second reading and is considered in detail, this usually takes place in a Public Bill Committee held outside the Chamber. These Committees -which are made up of between 16 and 20 MPs - reflect the political makeup of the House, so the government always has a majority.

But occasionally a Bill will be considered by a Committee of the whole House and this discussion takes place in the Commons Chamber itself, where all MPs can take part.

Any Bill can be referred to a Committee of the whole House, but the procedure is normally reserved for finance bills and other important or controversial legislation.

Image: iStockphoto 

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

Share this page