Commons remaining stages
MPs debated the report stage and third reading of the Finance (No. 3) Bill in the Commons.
Debate covered austerity, Brexit preparations and more. An amendment tabled by Labour's Yvette Cooper was selected, and divided on. The House voted in favour of the amendment by 303 to 296. Amendment 7 prevents the Government implementing the “no deal” provisions of Clause 89 without the explicit consent of Parliament for such an outcome.
Other Opposition amendments moved and selected were unsuccessful. New Clause 26 was accepted without a division and requires the Treasury to review the effect of the changes made by sections 79 and 80 and compare them with other legislation relating to the recovery of lost tax.
At the end of the debate the Finance (No.3) Bill passed its third reading without division.
Speaking for the Opposition, Annaliese Dodds, the Shadow Minister for the Treasury said,
"Despite the considerable problems with this Bill, given the fact that it now contains provisions that militate against a no-deal scenario—surely the most significant risk currently to our economy and indeed to our security—we cannot and will not oppose it."
Before commending the Bill to the House, Mel Stride, the Financial Secretary to the Treasury and Paymaster General said;
"I have been proud to take this Bill through the House. It provides a tax cut for 32 million people. It backs British businesses, introducing with measures to boost private sector investment and support jobs and growth, to ensure that our country is the country in which enterprise can thrive."
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.
Commons committee stage
The committee stage of the Finance (No. 3) Bill took place over two days. It was considered in a committee of the whole House, as are all Finance Bills.
On the first day of debate, the House of Commons divided on two amendments to the Bill, rejecting both. On the second day, debate was opened by the Exchequer Secretary to the Treasury, Robert Jenrick, and the Commons did not divide.
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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