The country always listens with wrapped attention to the Chancellor's annual budget. However after the expert analysis and newspaper comment has died down the Finance Bill, which will enact most of the budget measures, still has to pass through both houses.
The Bill is firstly considered by a committee of the whole House. This means that the Bill will be discussed in detail by all MPs present in the chamber; this procedure is normally reserved for finance bills and those of a controversial nature. The Bill then moves to the Public Bill Committee, after this committee's consideration it will be briefly debated in the House of Lords, although peers do not have the power to make amendments to bills that deal with taxation.
The Conservatives tabled an amendment to stop the Bill receiving a second reading, on the grounds that it failed to equip the UK to compete in a globalised market, penalised enterprise, did nothing to tackle the pension crisis and was ineffective in the fight against climate change. The amendment was defeated by 115 votes. The Bill is currently being analysed in the Finance Bill Committee.