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Finance Bill completes second reading

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The Finance Bill completed its second reading in the House of Commons last night, after almost five hours of debate.

Clauses 4, 7, 10, 19, 35 and 72 – dealing with the main rate of corporation tax, the supplementary charge for oil-related activities, plant and machinery writing-down allowances, fuel duties, childcare relief for higher earners, and the bank levy – will be considered by a Committee of the whole House, beginning on 3 May.

The remainder of the Bill will be committed to a Public Bill Committee.