Budget Responsibility Act 2024
impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.
Government Bill
(HM Treasury)The Budget Responsibility Act 2024 was a Government Bill that became an Act of Parliament.
Is this Bill currently before Parliament?No. This Bill was introduced on 18 July 2024 and became an Act of Parliament on 10 September 2024.
Whose idea is this Bill?Government Bills implement the legislative agenda of the Government. This agenda, and the Bills that will implement it, are outlined in the Queen's Speech at the Session's State Opening of Parliament.
How can I find out exactly what this Bill does?The most straightforward information is contained in the initial Explanatory Notes for the Bill.
Would you like to know more?See these Glossary articles for more information: Act of Parliament, Government Bills, Process of a Bill
Official Bill Page Initial Explanatory Notes Initial Briefing papers Ministerial Extracts from Debates All Bill Debates
This bill has received Royal Assent and has become an Act of Parliament
10 Amendments have been proposed for this Bill
View AmendmentsBill Progession through Parliament
Latest Key documents
Timeline of Bill Documents and Stages
9
Jeremy Hunt (Con)Nigel Huddleston (Con) - Shadow Secretary of State for Culture, Media and Sport
Tabled: 2 Sep 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Negatived On Division
View the speech made in the House
Clause 1, page 1, line 14, at end insert— "(c) or any changes to the government's fiscal targets."
5
Ellie Chowns (Green) - Green Spokesperson (Foreign Affairs)Siân Berry (Green) - Green Spokesperson (Crime and Policing)
Carla Denyer (Green) - Green Spokesperson (Immigration)
Adrian Ramsay (Green) - Green Spokesperson (Treasury)
Claire Hanna (SDLP)
Tabled: 2 Sep 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Not Called
Clause 1, page 1, line 25, at end insert- "(2A) Where the OBR prepares a report in accordance with subsection (1) or (2), it must take account of the impact of the measure or measures on- (a) the UK's compliance with, and (b) the fiscal cost of meeting, the UK's net zero target as set in section 1(2) of the Climate Change Act 2008."
6
Stella Creasy (LAB)Tabled: 2 Sep 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Not Called
Clause 1, page 2, line 4, at end insert "or if the condition in subsection (3A) is met.”
7
Stella Creasy (LAB)Tabled: 2 Sep 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Not Called
Clause 1, page 2, line 6, at end insert— "(3A) The condition in this subsection is that the measure, or combination of measures, forms part of category of measures with a cumulative impact on— (a) public sector net debt, (b) public sector contingent liabilities, or (c) both, that exceeds a specified percentage of the gross domestic product for a specified period. "Specified"means specified in, or determined in accordance with, the Charter for Budget Responsibility"
8
Stella Creasy (LAB)Tabled: 2 Sep 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Not Selected
Clause 1, page 2, line 9, at end insert— "(4A) If- (a) a Minister of the Crown is holding international negotiations with a view to securing changes to the trading relationship between the United Kingdom and another nation or group of nations and (b) the outcome of any such changes could be fiscally significant, the Treasury must, before the negotiations are concluded, request the Office to prepare a report (which may, but need not, be a section 4(3) report) that takes account of the possible outcomes of those negotiations. (4B) Changes to the trading relationship between the United Kingdom and another nation or group of nations are "fiscally significant" if the changes have a forecast impact on the public finances for a specified period that exceeds a specified percentage of the gross domestic product for a specified period. "Specified"means specified in, or determined in accordance with, the Charter for Budget Responsibility."
10
Jeremy Hunt (Con)Nigel Huddleston (Con) - Shadow Secretary of State for Culture, Media and Sport
Tabled: 2 Sep 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Not Called
Title, after “measures” insert "and of any changes to the government's fiscal targets”
2
Sarah Olney (LD) - Liberal Democrat Spokesperson (Business)Tabled: 30 Aug 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Negatived On Division
View the speech made in the House
Clause 1, page 1, line 25, at end insert— "(2A) In any case where the Office has acted in accordance with subsection (2), it may notify the Independent Adviser on Ministers' Interests of the circumstances in any case where it considers those circumstances may be relevant to— (a) the Ministerial Code, or (b) the functions of the Independent Adviser on Ministers' Interests.”
1
Sarah Olney (LD) - Liberal Democrat Spokesperson (Business)Tabled: 30 Aug 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Not Called
Clause 1, page 2, line 4, at end insert "or (b) the measure, or combination of measures, is likely to have an impact on- (i) the cost of government borrowing, (ii) interest rates, or (iii) the rate of growth of gross domestic product."
3
Sarah Olney (LD) - Liberal Democrat Spokesperson (Business)Tabled: 30 Aug 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Not Called
Clause 1, page 2, line 16, leave out "28" and insert “56”
4
Sarah Olney (LD) - Liberal Democrat Spokesperson (Business)Tabled: 30 Aug 2024
Committee of the whole House Amendments as at 4 September 2024
This amendment was Not Called
Clause 1, page 2, line 17, at end insert— "(6A) After the publication of a draft under subsection (6), the Treasury must consult- (a) the Office for Budget Responsibility, (b) the Treasury Committee of the House of Commons, and (c) such other persons as the Treasury considers appropriate. (6B) When a modified Charter so as to include provision by virtue of this section is laid before Parliament, the Treasury must also lay before Parliament a report on the outcome of consultation under subsection (6A)"