Finance (No. 2) Bill: Second Reading
341Ayes
195Noes
Carried · majority 146 · Government won115 did not vote
651 Members · Aye 341 · No 195 · DNV 115 · grey dots in centre are abstentions
Analysis
Commons
Commons
Parliament voted on 16 December 2025 to give the Finance (No. 2) Bill its Second Reading, allowing Labour's autumn Budget measures to proceed to detailed parliamentary scrutiny. The vote passed by 341 ayes to 195 noes. Second Reading is the stage at which the House of Commons votes on the general principles of a bill, before it moves to line-by-line examination in committee. The Bill puts into law a range of tax and spending measures announced by Chancellor Rachel Reeves in her Budget of 26 November 2025. These include changes to inheritance tax reliefs for agricultural and business property, increases to remote gambling duty rates, reforms to the loan charge, increases to the national living wage taking effect from April 2026, and a continuation of frozen income tax and National Insurance thresholds extending into the end of the decade. The measures are intended to raise additional revenue to fund public services and reduce borrowing as a share of GDP. Labour MPs voted unanimously in favour, with 299 Labour and 36 Labour and Co-operative members backing the Bill and none opposing. The Conservatives (103 votes against), Liberal Democrats (66), Reform UK (7), the Scottish National Party (6), the Democratic Unionist Party (4), Plaid Cymru (3), and the Alliance Party of Northern Ireland (1) all voted against. Four independents backed the Bill and three opposed it. The Conservative amendment to reject the Bill at Second Reading, moved by shadow Chancellor Sir Mel Stride, was therefore defeated. The Bill subsequently passed its Third Reading on 11 March 2026 by 292 to 161.
Voting Aye meant
Support the Finance Bill implementing Labour's Budget, including its tax and spending choices aimed at avoiding austerity and maintaining public services
Voting No meant
Oppose the Finance Bill, with critics arguing it damages private sector investment and harms family farms through inheritance tax changes
Each row is one party. The stacked bar gives the within-party split of Aye / No / Absent; the columns on the right give the raw counts. The whip column shows the published party position — “Free vote” means the whip was formally removed for this division.
Party
Whip
Aye / No / Abs
Aye
No
Abs
Labour Party
Whipped Aye
299
0
62
Conservative and Unionist Party
Whipped No
0
103
13
Liberal Democrats
Whipped No
0
66
6
Labour and Co-operative Party
Whipped Aye
36
0
6
Independent
—
4
3
6
Scottish National Party
Whipped No
0
6
3
Reform UK
Whipped No
0
7
1
Sinn Féin
—
0
0
7
Democratic Unionist Party
Whipped No
0
4
1
Green Party of England and Wales
—
0
0
4
Plaid Cymru
Whipped No
0
3
1
Social Democratic and Labour Party
—
0
0
2
Alliance Party of Northern Ireland
—
0
1
0
Restore Britain
—
0
0
1
Speaker
—
0
0
1
Traditional Unionist Voice
—
0
1
0
Ulster Unionist Party
—
0
1
0
Your Party
—
0
0
1
Source · Hansard · UK Parliament Votes API · whip status from announced positions; “free vote” indicates the whip was formally removed
Defends the Bill as delivering fair choices on cost of living, NHS, poverty reduction, and growth; argues agricultural and business property relief reforms are proportionate with £1m allowance and 20% rate.Labour · Voted aye · Read full speech (4,022 words) →
Opposes the Bill as economically reckless, redistributing wealth at the expense of growth incentives; argues inheritance tax changes will devastate family farms and businesses, break PM's promises, and damage investment.Conservative · Voted no · Read full speech (3,204 words) →
Criticizes the Bill as short-term Treasury tax grabs with no vision; opposes APR/BPR changes as failing to tackle real loopholes, and condemns business rates rises and hospitality tax increases.Liberal Democrat · Voted no · Read full speech (2,043 words) →
Argues the farming and business inheritance tax changes are arithmetically impossible for businesses with low profit margins; warns of double taxation and job losses.Conservative · Voted no · Read full speech (2,341 words) →
Supports the Bill's overall direction but will not support APR/BPR proposals; calls for a U-turn on agricultural inheritance tax despite party pressure.Labour · Voted aye · Read full speech (426 words) →
Supports the Bill as pro-growth and pro-enterprise; praises enterprise incentive expansions, venture capital trust reforms, and listing relief as enabling UK companies to scale.Labour · Voted aye · Read full speech (974 words) →
Wants the government to succeed but deeply concerned APR removal has killed rural investment confidence; calls APR changes a threat to growth in rural and island communities.Scottish National Party · Voted no · Read full speech (1,427 words) →
Supports the Bill as providing fair balance between taxes and services; argues investment in infrastructure and skills will drive economic growth for small businesses.Labour · Voted aye · Read full speech (812 words) →
Sources
Division dataUK Parliament Votes API
DebateHansard · Commons
Stance analysisAI analysis · Claude 4.x
LicenceOpen Parliament Licence v3.0