MPs debate the 2012 budget, day two
23 March 2012 (updated on 23 March 2012)
Secretary of State for Transport, Justine Greening, opened the second day of the House of Commons debate on the 2012 Budget on Friday 23 March. The Budget debate will continue on Monday 26 March
Budget debate
There will be three days of debate on the 2012 Budget. At the end of the debate the Commons will be asked to passed resolutions on various aspects of taxation including national insurance, income and captial gains tax. All these resolutions will become part of the Government's 2012 Finance Bill.
Watch and read the debate and views expressed by MPs on Parliament TV. Shadow Minister for Transport, John Woodcock, responded in the debate on behalf of the Oppositions. Also watch and read the first day of debate on Parliament TV and in Commons Hansard.
- Parliament TV: MPs debate the 2012 Budget, day two
- Commons Hansard: MPs debate the 2012 Budget, day two
- Commons news: MPs debate the 2012 Budget, day one
Budget Resolutions
Tax measures announced in the Budget, known as the Budget Resolutions, can be approved by the Commons to come into effect in law immediately. But the decisions to agree the resolutions themselves are taken at the end of the debate on the Budget.
Once the Commons has agreed the Budget Resolutions, the Finance Bill, which enacts the Chancellor of the Exchequer's Budget proposals for taxation, starts its passage through Parliament in the same way as any other Bill.
- 2012 Budget Resolutions (PDF 252KB)
House of Commons Library Analysis
The House of Commons Library regularly produce briefing notes which inform MPs about key issues. The Library has produced two briefing papers on the background to the 2012 Budget.
- Commons Library briefing paper: The 2012 Budget
- Commons Library briefing paper: The 2012 Budget
- Commons Library briefing paper: Background to the 2012 Budget
- Commons Library Research Paper: Economic Indicators, Budget update
Budget speech and further information
The Chancellor's Budget speech, HM Treasury documents and House of Commons Library analysis can be found in the news stories below.
The Parliament website has information about the history of the budget as a parliamentary occasion and frequenty asked question about budget speeches.
Debates
Debates are an opportunity for MPs to discuss government policy, proposed new laws and current issues. It allows MPs to voice the concerns and interests of their constituents.