Last Updated: Tuesday, 5 July 2005, 11:18 GMT 12:18 UK
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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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