House of Commons Library

Autumn Budget & Finance (No.2) Bill 2017

Published Monday, December 18, 2017

The Chancellor, Philip Hammond, presented the Government's first Autumn Budget on 22 November 2017. The Government published the Finance Bill, to implement the tax measures contained in the Budget, on Friday 1 December, and the Bill received a Second Reading on Monday 11 December.


Each year the Chancellor of the Exchequer presents the Budget, which contains all the tax measures for the year ahead. Traditionally the Budget has been in March, prior to the start of the tax year on 6 April.  The statutory provisions to give effect to these tax measures are set out in a single Bill: the annual Finance Bill.  It has been the practice in recent years for Chancellors to make tax announcements twice a year, using the Pre-Budget Report or Autumn Statement as a second fiscal event. In his Autumn Statement on 23 November 2016 the Chancellor Philip Hammond announced that from autumn 2017 the Government would present a single autumn Budget, to allow for greater Parliamentary scrutiny of Budget measures ahead of their implementation.

For more details see, The Budget and the annual Finance Bill, Commons Library briefing CBP813, 6 October 2017.

Autumn Budget 2017

On 22 November 2017 Mr Hammond presented the Conservative Government’s fourth Budget – the first to be presented in the Autumn. The Budget report - HC 587 - and associated documents are collated on  Three key sources are:

Commons Briefing Papers are available on the context for the Autumn Budget (CBP 8144, 17 November 2017), and a summary of the measures announced (CBP 8153, 22 November 2017), and the day after the Budget the IFS published its post-Budget briefing.

The Finance (No.2) Bill 2017-19 was published on 1 December (HM Treasury press notice, 1 December 2017). The Bill and details of its scrutiny are set out on the Parliament site.

On 12 September the Government announced the date of the Autumn Budget, confirming that it would introduce a Finance Bill after this (HM Treasury press notice, 12 September 2017). At this time the Government published a number of draft clauses to be included in the Bill, in line with previous practice in recent years for publishing much of the Bill in draft for consultation (Draft legislation for Finance (No.2) Bill - Written Statement, HCWS113, 6 September 2017). 

Library briefing material on the Finance Bill

It is long-standing practice for there not to be a single impact assessment on the annual Finance Bill. As noted, HMRC publish tax information & impact notes on individual Budget measures (see PQ6549, 6 September 2017). Similarly, given the scale and scope of the annual Finance Bill, the Library does not publish a single paper on the Bill, but will generally publish briefing material relating to those clauses selected for debate by the Committee of the Whole House. This debate is scheduled to take place over two days on 18 & 19 December 2017.

Taxation of banking, Commons Briefing paper CBP5251, 7 December 2017

Stamp duty land tax on residential property, Commons Briefing paper CBP7050, 7 December 2017

Armed Forces accommodation allowance exemption, Commons Briefing paper CBP8174, 11 December 2017. In this case, see also, Armed Forces Housing, Commons Briefing paper CBP7985, 15 June 2017.

Tax avoidance: recent developments, Commons Briefing paper CBP7948, 14 December 2017. 

In the latter case, further historical background is given in two other papers:

Tax avoidance: a General Anti-Abuse Rule, CBP6265, 11 December 2017.

Tax avoidance: a General Anti-Avoidance Rule - background history (1990-2010), CBP2956, 13 April 2016.

The Public Sector Equality Duty and Equality Impact Assessments, Commons Briefing paper CBP6591, 15 December 2017.

Estimating the gender impact of tax and benefits changes, Commons Briefing paper CBP6758, 18 December 2017.

Commons Debate packs CDP-2017-0244

Author: Antony Seely

Topics: Industrial health and safety, Taxation

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