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Finance (No. 2) Bill

A Bill to make provision in connection with finance.

Originating House

House of Commons

Sponsor

Rachel ReevesLabour (Co-op)

Last Updated

12 February 2026

In Plain English

AI-generated

The Finance (No. 2) Bill is a government measure setting out finance-related provisions for the year, including tax and public spending changes. It is currently being debated in the House of Commons at the report stage, with several amendments discussed in committee; the sponsor is Labour MP Rachel Reeves. If enacted, it would shape the government’s budget and the wider economy.

Key Points

  • Sets out finance-related provisions and fiscal measures for the year.
  • Debated in Committee with multiple new clauses and amendments (for example New Clauses 7, 9, 12, 24, 25, 26 and Amendment 3) and stand-part clauses (62, 63, 86).
  • Voting in committee shows a mix of support and opposition across parties, with large majorities for the main stand-part provisions and substantial cross-party engagement on amendments.
  • Demonstrates cross-party dynamics: Labour and allied parties generally supported the bill, while Conservative and some other opposition groups opposed many amendments.
  • After the report stage, the bill will move to remaining Commons stages and then to the House of Lords for consideration.

Progress

The bill is at the report stage in the Commons. It has passed through Committee stage with amendments being debated, and will proceed to further Commons stages and then to the Lords for scrutiny.

Voting

In the committee votes on 12–13 January 2026, several amendments were debated; stand-part votes showed large majorities in favour of the main provisions (examples: 344 Aye to 173 No for Clause 86 stand part; 348 Aye to 167 No for Clause 63 stand part). Overall, Labour (and allied groups) backed the bill, while Conservative MPs and other opposition groups more often voted against amendments.

Who is affected?

Taxpayers and householdsBusinesses and employersPublic sector bodies and public servicesLocal authorities and regional bodiesFinancial markets and investorsCharities and non‑profit organisationsThe wider economy and jobs

Generated 21 February 2026

How Parties Are Voting

Based on 49 recorded votes • Sorted by % Aye

Plaid CymruGenerally For
68 / 11
Scottish National PartyGenerally For
177 / 54
Liberal DemocratGenerally For
524 / 188
Ulster Unionist PartyGenerally For
5 / 2
Social Democratic & Labour PartyGenerally For
20 / 9
Your PartyGenerally For
21 / 10
Traditional Unionist VoiceMixed
4 / 2
IndependentGenerally For
82 / 48
Labour (Co-op)Mixed
3717 / 2542
Democratic Unionist PartyMixed
67 / 59
AllianceMixed
2 / 2
Green PartyMixed
8 / 10
ConservativeGenerally Against
1096 / 2195
Reform UKGenerally Against
45 / 109
Sinn FéinMixed
0 / 0
SpeakerMixed
0 / 0

Updates & Documents

News (1)

Finance (No. 2) Bill

18 Dec 2025

The Public Bill Committee has now completed its work and has reported the Bill with amendments to the House, and is no longer able to receive written evidence.

What happens next?

The Bill is now due to have its report stage and third reading on a date to be confirmed. Amendments can be made to the Bill at Report Stage. Amendments to be considered are selected by the Speaker.

Documents (95)

Notices of Amendments as at 13 February 2026 - large print
Amendment PaperCommons
13 Feb 2026
Notices of Amendments as at 13 February 2026
Amendment PaperCommons
13 Feb 2026
Legislative Consent Motion agreed by the Scottish Parliament - 11 February 2026
Legislative Consent Motions-devolved legislaturesCommons
11 Feb 2026
Legislative Consent Motion agreed by Senedd Cymru - 6 February 2026
Legislative Consent Motions-devolved legislaturesCommons
6 Feb 2026
Notices of Amendments as at 5 February 2026 - large print
Amendment PaperCommons
5 Feb 2026
Notices of Amendments as at 5 February 2026
Amendment PaperCommons
5 Feb 2026
Notices of Amendments as at 4 February 2026
Amendment PaperCommons
4 Feb 2026
Notices of Amendments as at 4 February 2026 - large print
Amendment PaperCommons
4 Feb 2026
Bill 377 2024-26 (as amended in Public Bill Committee)
BillCommons
3 Feb 2026
Bill 377 2024-26 (as amended in Public Bill Committee) - large print of tables
BillCommons
3 Feb 2026

Parliamentary Votes (49)