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finance bill

  • 20-01-2011 2:05pm
    #1
    jamescc
    Registered Users, Registered Users 2 Posts: 395 ✭✭


    can anyone explain to me what the finance bill is


Comments

  • #2
    oscarBravo
    Technology & Internet Moderators Posts: 28,830 Mod ✭✭✭✭oscarBravo


    [moved from Political Theory]


    It's the legislation that gives effect to many of the changes announced in the budget speech. It's also a "money bill" as defined in the constitution, which makes it somewhat more interesting than your average bill.


  • #3
    later12
    Closed Accounts Posts: 11,299 ✭✭✭✭later12


    When the provisions for welfare cuts, the universal social charge and other taxation and fiscal policy changes were passed by the Oireachtas after the budget, a clause was laid down that the provisions had to be further passed by a Finance bill within four months of the initial ratification.

    The Finance Bill also contains some new legal provisions, such as enhancing the facilities open to the Minister for Finance and the Government in operating to respond to the ongoing financial and debt crisis as it continues to emerge. There are also some new powers given to Revenue, among other provisions. The argument that many people, myself included, favour in giving adequate attention to the Finance bill, is that many of these legislative effects have never been discussed or analysed in the Dáil, and a rushed bill may brush over what could be very significant (or very messy and unattractive) aspects to the bill.


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