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ARTICLE · 09 OCTOBER 2017

The Finance (No.2) Bill 2017

RWK Goodman
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Despite the Conservative Party forming a minority government, the new provisions were passed by 320 to 299 votes and the Bill is expected to receive Royal Assent by the end of this year.

United KingdomStrategy
Freya Marks
Freya Marks

Following the Prime Minister's decision in May this year to call a snap general election, the Government had to drop over 70 provisions from the Finance Bill 2017 (subsequently the Finance Act 2017) in order to pass vital elements of the legislation before Parliament was dissolved.

To enact the withdrawn measures, the Government needed to produce a second bill. Consequently, the long-awaited Finance (No. 2) Bill 2017 ("the Bill") was finally published on 8 September 2017 passing its second reading on 12 September 2017. Despite the Conservative Party forming a minority government, the new provisions were passed by 320 to 299 votes and the Bill is expected to receive Royal Assent by the end of this year.

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