In a shock announcement following the Easter weekend the Prime Minister Theresa May declared plans to call a snap election on 8 June. The announcement marked a seismic shift from her earlier declarations that there would be no new elections until 2020.
Her dramatic speech on the steps of Downing Street made it clear that she felt she had little choice but to hold an election to build a greater mandate to steer the UK through the Brexit negotiations.
Prime Minister May said, '…. I have concluded that the only way to guarantee certainty and stability for the years ahead is to hold this election and to seek your support for the decisions I must take'. The decision to bring forward the fixed term Parliament elections required the support of at least two-thirds of the whole House.
The announcement of the election will change the scheduled passage of the Finance Bill through Parliament. The Finance Bill 2017, officially known as Finance (No. 2) Bill 2016-17 was expected to receive Royal Assent before the House of Commons adjourned for the summer recess.
The Finance Bill is now likely to be significantly reduced in scope before the election with many measures being held over until after a new government has been formed. If the Conservatives stay in power any changes are likely to be minimal.