Consolidated Fund Act 2007

Authorise the use of resources for the service of the years ending with 31st March 2008 and 31st March 2009 and to apply certain sums out of the Consolidated Fund to the service of the years ending with 31st March 2008 and 31st March 2009.

Now an Act of Parliament

The story so farThe Consolidated Fund Bill was introduced in the House of Commons on 5 December 2007 by Jane Kennedy (Labour). It completed its passage through Parliament and became law as the Consolidated Fund Act 2007, receiving Royal Assent on 13 December 2007.

What the bill does

The Bill provides Parliamentary authority for funds requested by the Government. It is part of what is called the ‘supply procedure’. This is how Parliament grants the Government’s requests for resources. A Consolidated Fund Bill is passed every year. The Bill is one of three pieces of legislation in each financial year which provide authorisation from Parliament for the resources sought by the Government. In addition to the Bill, there are two Consolidation Fund (Appropriation) Bills. Proceedings on the Bill are formal – there is no debate. Key areas: <ul><li>The Bill authorises provision sought in the Winter Supplementary Estimates and New Estimates for 2007-08 and in the Vote on Account for 2008-09</li><li>The Bill authorises the release of money from the Consolidated Fund which is the Government’s bank account.</li></ul>

Progress through Parliament

1st reading Commons 5 Dec 2007
2nd reading Commons 6 Dec 2007
3rd reading Commons 6 Dec 2007
1st reading Lords 6 Dec 2007
2nd reading Lords 12 Dec 2007
Committee negatived Lords 12 Dec 2007
3rd reading Lords 12 Dec 2007
Royal Assent Unassigned 13 Dec 2007

Source: the official bill page. Last updated 25 Feb 2009.