The Government's Charter for Budget Responsibility has passed the Commons 320 to 258, majority 62, following days of bitter rows in Labour's ranks over whether to oppose the plan.
A total of 20 Labour MPs abstained from the vote.
It was both a political gimmick and a test for Labour's new leadership.
The government's fiscal charter was voted through tonight meaning that there will now be a legal duty on future governments to always spend less than they earn.
But the man behind the 'political theatre', George Osborne made much out of the u-turn that his shadow counterpart made in the weeks running up to the vote.
ITV News Deputy Political Editor Chris Ship reports:
Some Corbynistas may be cross that 20 Labour MPs abstained in the fiscal charter vote, but is it really worth the abuse and party disunity?
MPs are set to vote on the Conservative's economic plan which caused clashes within Labour after a u-turn by the shadow Chancellor.
It comes after shadow chancellor John McDonnell made a surprise U-turn on the Tory budget vote which is due later today.