Budget Responsibility Bill — Clause 1 - Announcement of fiscally significant measures: Division 10 - 4 Sep 2024 (Rejected)

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Legislation Summary

Legislation promotes fiscal discipline and independent assessments for transparent economic management.

Legislation Key Points

This legislation emphasizes the importance of fiscal discipline and sound financial management as the foundation of economic plans.

  • Fiscally significant measures should be accompanied by independent assessments to enhance transparency and accountability.
  • There is a commitment to non-negotiable fiscal rules and changes to the government's fiscal targets.
  • Means-testing benefits like the winter fuel allowance may be implemented to save public funds.
Raw Legislation Text

“or if the condition in subsection (3A) is met.” “and of any changes to the government’s fiscal targets”. “Our fiscal rules are non-negotiable.”-[Official Report, 30 July 2024; Vol. 752, c. 1263.] “the announcement of a fiscally significant measure should always be accompanied by an independent assessment of its economic and fiscal implications, in order to support transparency and accountability.”-[Official Report, 30 July 2024; Vol. 752, c. 1211.] “fiscal discipline and sound money is the bedrock of our plans.”-[Official Report, 30 July 2024; Vol. 752, c. 1213.] “We are the party who have said that we will cut the winter fuel allowance for the richest pensioners and means-test that benefit to save money”.-[Official Report, 25 March 2014; Vol. 578, c. 174.] “Freedom from want cannot be forced on a democracy or given to a democracy. It must be won by them.” “be as open as possible with Parliament and the public”. “This is Portsmouth, people went to war from this city”. “The numbers may be a little bit worse than they thought at the time, and I think there were some things that were hidden from view, but the overall picture over the next four or five years is very, very similar to what we knew before the election.” “read my lips: no austerity under Labour”. “all roads lead to the Tories” “serve to strengthen the legal foundations for fiscal management.” “is one that every young person in my community should feel is possible for them”.-[Official Report, 25 June 2015; Vol. 597, c. 1121.] “the frontline of defence in this country”. “The costing of a measure is the direct impact of a policy decision on the public finances”.

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