The bill was introduced to the House of Lords on 6 February 2024. Its second reading and all remaining stages are due to take place on 21 February 2024.
Finance Bill (347 KB , PDF)
The Finance Bill is a government bill intended to give statutory effect to the tax measures that have previously been announced by the government. The majority of the measures included in the bill were announced at the 2023 autumn statement. However, measures announced at the 2023 spring budget, as well as a selection of measures announced independently outside the usual cycle of fiscal events, are also included. Key measures include:
The bill had its second reading in the House of Commons on 13 December 2023. The bill was considered in a committee of the whole House on 10 January 2024, before moving to a public bill committee. It completed committee stage on 16 January 2024 and completed its remaining stages in the House of Commons on 5 February 2024.
Finance Bill (347 KB , PDF)
This briefing is the fifth of a series on the post-war history of the UK economy. The series proceeds decade-by-decade from the 1950s onwards, providing an overview of the key macroeconomic developments of each decade. This fifth briefing looks at the 1990s. In this decade the UK economy settled into a period of low inflation and steady growth; however, living standards growth was lower and more regionally concentrated than in previous decades.
The Budget Responsibility Bill would require ministers to request an assessment from the Office for Budget Responsibility (OBR) for every major fiscal announcement and give the OBR the power to decide to publish one if the minister failed to request it. This follows the September 2022 ‘mini-budget’. The statement included plans that would have resulted in a projected £45bn reduction in tax income. It did not have an accompanying OBR assessment.
In November 2023, the Harrington review of foreign direct investment made recommendations about how the UK could attract more cross-border investment. The new Labour government has said tackling barriers to investment is a priority.
