Finance (No. 2) Bill completes second reading and remaining stages

23 November 2010

The Finance (No. 2) Bill received its second reading - a general debate on all aspects of the Bill - along with all remaining stages in the House of Lords on Monday 22 November.

Lord Sassoon, Parliamentary Secretary to the Treasury, introduced the debate.

The Bill is known as a 'Money Bill'. The House of Lords cannot amend Money Bills so committee stage, report stage and third reading are just formalities.

Royal Assent of the Finance (No.2) Bill - the final stage of a Bill's passage through Parliament when the Bill becomes an Act (law) - has yet to be scheduled.

Further information

The second reading of the Bill usually takes place two weeks after the first reading. The government Minister or a senior spokesperson in the Lords for the government department responsible for the Bill opens the debate. Second reading provides the first opportunity for Members of the Lords to discuss the purpose of a Bill and its main principles.

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