Fiscal Responsibility Bill (HL Bill 24 of 2009–2010). LLN 2010/005 - Lords Library Note

Published 05 February 2010 | Library notes LLN 2010/005

Amended 16 December 2011

Authors: Maxine Hill

Topic: Economic situation, Public expenditure

Fiscal Responsibility Bill (HL Bill 24 of 2009–2010). The Fiscal Responsibility Bill imposes a statutory duty on the Treasury to meet specific targets for the reduction of government borrowing and debt. The Bill gives Parliament a greater role in fiscal policy. It has completed its passage through the House of Commons and is due for its second reading debate in the House of Lords on 10th February 2010. This House of Lords Library Note summarises the second reading debate and the other stages of the Bill’s passage through the House of Commons.

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