The clause is a purely procedural one, which addresses the parliamentary machinery for introducing legislation and amends provisions relating to the House of Commons resolutions for stamp duty contained in the Finance Act 1973. Those resolutions, which can be used to vary or abolish stamp duty, have temporary statutory effect until replaced by an Act of Parliament. The clause ensures that, following the change to spring-to-spring Sessions, any resolutions for stamp duty will retain their practical effect and allow sufficient time for parliamentary scrutiny.
The change to spring-to-spring Sessions means that Parliament may be prorogued each year between the Budget, when a resolution might be passed, and the enactment of the Finance Bill. Section 50 of the Finance Act 1973, which contains the provisions relating to resolutions for stamp duty, will now be amended to ensure that such a resolution remains effective until it is replaced by an equivalent provision in the Finance Act. Similar issues in relation to resolutions for other taxes and duties covered by the Provisional Collection of Taxes Act 1968 were resolved by legislation introduced by the Finance Act 2011. We have no objection to the measure standing part of the Bill.