Fiscal Responsibility (Statement) Bill 2011

Public bill · Private Member · Presented

The proposal would require the Government to publish a Fiscal Responsibility Statement alongside budgets, explaining how planned spending relates to the funds expected to be available and setting out policies aimed at maintaining a balanced fiscal position over the medium term. It focuses on making structural deficits—underlying budget shortfalls not caused simply by a recession—more visible, relying on public, parliamentary and market scrutiny rather than penalties to discourage irresponsible budgeting.

Formal long title

Bill entitled an Act to ensure the transparency of all budgets proposed by the Government where proposed expenditures not exceeding funds estimated to be available for the fiscal year as shown in the budget shall result in the publication of a Fiscal Responsibility Statement to ensure fiscal transparency and policies orientated towards good government and a balanced fiscal position over the medium term

Last updated 12 April 2018