June Budget – Two more Finance Acts this year
The Budget Red Book notes that a new Finance Bill will be published very shortly "to ensure swift Royal Assent for its key priorities". This will result in the Finance (No 2) Act 2010. The first (truncated) 2010 Finance Act was rushed through just before the House rose for the General Election.
We are also promised a further Finance Bill in the autumn. This will be published in draft for comment in July. This is in accordance with a proposed new convention whereby the majority of tax changes are initially published in draft for consultation three months before formal publication.
This third bill will then become Finance (No 3) Act 2010.