- Deddfwriaeth Ddrafft
This is a draft item of legislation and has not yet been made as a UK Statutory Instrument.
Draft Order laid before Parliament under section 2(8) of the Fiscal Responsibility Act 2010, for approval by resolution of the House of Commons.
Draft Statutory Instruments
Fiscal Responsibility
Made
***
Coming into force in accordance with article 1(2)
This Order is made in exercise of the powers conferred by section 2(1) of the Fiscal Responsibility Act 2010(1) as read with sections 2(4) to 2(6) and in compliance with the duty imposed on Treasury by section 3(7) of that Act.
A draft of this Order has been laid before Parliament in accordance with section 2(8) of that Act and approved by a resolution of the House of Commons.
The Treasury make the following Order:
1.—(1) This Order may be cited as the Fiscal Responsibility Order 2010.
(2) This Order comes into force on the day after the day on which it is made.
2.—(1) The Treasury must ensure that, for the financial year ending in 2014, public sector net borrowing expressed as a percentage of gross domestic product is 5.5% or less.
(2) The duty in paragraph (1) only applies if half of public sector net borrowing expressed as a percentage of gross domestic product for the financial year ending 2010 as set out in the Treasury’s first report made to Parliament under section 3(3) of the Act is more than 5.5%.
3.—(1) The Treasury must make a report on the progress which has been made towards complying with the duty in article 2(1) whenever—
(a)an Economic and Fiscal Strategy Report, or
(b)a Pre-Budget Report,
is laid before Parliament before 1 April 2014.
(2) The Treasury must, on the first occasion on which a Pre-Budget Report is laid before Parliament after 31 March 2014, make a report stating whether or not it appears to them at that time that the duty in article 2(1) was complied with and, if not, why not.
(3) This article applies only if the duty in article 2(1) applies.
Two of the Lords Commissioners of Her Majesty’s Treasury
Date
(This note is not part of the Order)
This Order imposes a duty on the Treasury to ensure that public sector net borrowing expressed as a percentage of gross domestic product for the financial year ending in 2014 is 5.5% or less. The duty only applies if half of public sector net borrowing expressed as a percentage of gross domestic product for the financial year ending 2010 as set out in the Treasury’s first report made to Parliament under section 3(3) of the Act is more than 5.5%.
The Order also makes provision for reporting on progress towards complying with the duty and for reporting on compliance with the duty.
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Mae Memorandwm Esboniadol Drafft yn nodi datganiad byr o ddiben Offeryn Statudol Drafft ac yn rhoi gwybodaeth am ei amcan polisi a goblygiadau polisi. Eu nod yw gwneud yr Offeryn Statudol Drafft yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol, ac maent yn cyd-fynd ag unrhyw Offeryn Statudol neu Offeryn Statudol Drafft a gyflwynwyd yn fanwl gerbron y Senedd o Fehefin 2004 ymlaen.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys