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Finance (No. 2) Bill
by Ian Neale 06/04/2005
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Out of the miasma surrounding furious horse-trading between Government and Opposition, in the wake of yesterday's announcement that Parliament is to be dissolved next Monday, a rather slimmer version of the Finance Bill emerged triumphant today. This Finance (No. 2) Bill had its Second Reading debate in the House of Commons today. We expect it will in absurdly short order this week become the Finance Act 2005. A set of Explanatory Notes is available from the Treasury website.
The Government has managed to salvage the lion’s share of its original Bill, including all the bits relating to pensions. What were s.150 and Sch. 19 in the original Bill are now s.101 and Sch 10; there appear on first reading not to have been any drafting changes otherwise. Regrettably, it seems unlikely there will be any effective Parliamentary scrutiny of this important legislation.
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