Commons Finance (No.3) Bill: committee stage

12 November 2018

MPs are debating the Finance (No. 3) Bill 2017-19 in a committee of the whole House in the Commons over two days on 19 and 20 November 2018.

Commons committee stage

The committee stage of the Finance (No. 3) Bill will take place over two days. It will be considered in a committee of the whole House, as are all Finance Bills.

Transcripts of proceedings in the House of Commons Chamber are available in Hansard online three hours after they happen.

Commons second reading

Debate was opened by the Financial Secretary to the Treasury, Mel Stride, who stated that "is the Conservative party that has once again [that has brought our country back from the brink and into better times."

MPs debated one amendment, moved by Labour MP Peter Dowd. This amendment declined to give the Bill a second reading on the grounds that the 2018 Budget it was derived from "confirmed the continuation of austerity and tax cuts for the wealthiest, [and] failed to introduce a fair taxation system which protects middle and low earners."

The House divided twice during second reading: They voted down the amendment moved on the Bill, before passing second reading.

Watch the debate on the Finance (No.3) Bill, or read the second reading debate below.

The Finance Bill

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 the annual Finance Bill. 

Summary of the Bill

The Finance Bill aims to:

  • Grant certain duties and alter other duties
  • Amend the law relating to the national debt and the public revenue
  • Make further provision in connection with finance

Keep up to date with all the proceedings and documentation, including amendment papers, on the Finance Bill and find out how a Bill becomes an Act of Parliament.

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.

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