Finance Bill 2016

Reports on debates during the passage of the 2016 Finance Bill (now Finance Act 2016)


The second reading was a chance for a debate on the principles in, and broad content of, the Finance Bill, but it was a thin exchange on this occasion because of uncertainty about how it will progress and which clauses will be ditched because of the announcement of a general election on June 8. Much of the debate was about the sugar tax.

The SNP put forward an amendment to scupper the Bill, which was voted down by 54- 314. The SNP complained that the Bill failed to provide the necessary stimulus to compensate for the economic impact of Brexit, it failed to address the inequity of VAT being charged on the Scottish Police Authority and the Scottish Fire and Rescue Service and failed to provide concrete measures to support the oil and gas industry, among other failings.

The Bill will now go to its committee stage, which will take place on the floor of the House of Commons in a single day on April 25th (tomorrow).

Report stage took place in the House of Commons on 5 and 6 September 2016. One new clause was added to the Bill and a number of amendments agreed, including an opposition amendment to Schedule 19 introducing a power for the Treasury to make regulations requiring large businesses to include a country by country report when they publish their group tax strategy.

FInance Bill report stage takes place in the House of Commons today and tomorrow. For the uninitiated the discussions can sometimes be a little confusing. So here is what they will be discussing in each group of amendments. Some of the wording is taken from the Government's notes, some is our own description of what we think an amendment is trying to do. Government amendments are listed first, with opposition ane backbench amendments in each group afterwards, in bullet point format, as they are unlikely to be passed (though may still dominate debate).

The CIOT external relations team have produced a detailed (40 pages) note of committee stage debates on Finance Bill 2016.