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Finance (No.2) Bill
AIM
This bill provides the legal basis for the Budget.

MAIN PROVISIONS
  • Principle terms of the April 2006 budget, click the link below for full details

    BACKGROUND
    TIMETABLE
    Responsible department: Treasury
    Origin: House of Commons
    Introduced: 28 March 2006
    Second reading: 24 April 2006
    Committee stage: 2 & 3 May 2006
    Remaining stages: 4 & 5 July 2006

    LORDS
    First reading: No date
    Second reading and report stage: 17 July 2006

    This annual bill is required to implement government budgets, although taxes can be collected immediately via the Provisional Collection of Taxes Act 1968.

    It is a formality but gives the opposition the chance to air their grievances over the Budget.

    The Lords are not allowed to change any of this legislation as it is a money bill.



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