The Budget-2001

The Finance Bill will be presented to the House and given its first reading at the end of the Budget debate. The Bill's procedure through the Commons is broadly the same as most other bills, with a Second Reading, Committee, Report and Third Reading. The Committee stage is split between a Committee of the Whole House and a Standing Committee. The Committee of the Whole House deals with the more controversial, important or novel provisions of the Bill. The Standing Committee, which normally consists of 30 to 40 Members, deals with the other provisions. After the Third Reading the Bill is sent to the Lords, where it usually passes through all its stages in one day, as the Lords are unable to amend financial bills. The Bill can then receive Royal Assent.

The speech will be published, as usual, in the Official Report (Hansard). It will also be on the Internet on the Treasury pages along with a number of press notices and other budget information, soon after the Chancellor has sat down. Links to budget information, past and present, can be found on the Treasury website at:

The House of Commons Internet site has a Frequently Asked Questions page on the Budget and a Factsheet on The House of Commons and the Raising of Taxation: Budgets and Financial Documents (No.49). The links to these pages can be found from:

The Factsheet is also available from The House of Commons Information Office in hard copy format, free of charge.