Budgetary Act, 2023
| Budgetary Act, 2023 | |
|---|---|
 | |
| Parliament of Great Britain and Ireland | |
| An Act to establish and assist in the creation of budgetary policy. | |
| Citation | Original Text |
| Enacted by | Joint Session of Westminster |
| Date enacted | 22 January, 2023 |
| Date of Royal Assent | 22 January, 2023 |
| Signed by | HM Queen Elizabeth III |
| Introduced by | Rt Hon Cameron Romefeller MP (BFL) |
| Amends | |
| None | |
| Repealing legislation | |
| None | |
| Status: In force | |
Content of the Act
Article I || Titles
1.00 || This Act may be cited and referred to in short as the Budgetary Act, 2023.
1.01 || This Act may be referred to in full as An Act to establish and assist in the creation of budgetary policy.
Article II || Establishment
2.00 || Budgets shall serve as the primary instruments of fiscal policy in the Empire.
2.01 || There are two instruments of fiscal policy, collectively called budgetary policy. These shall be: 2.01a || Fiscal Budgets: The mainstay of the budgets. These are published at least four times a year and are proposed as a Standard Act of Parliament. 2.01b || Budget Amendments: These are utilized by HM Treasury to amend an existing Fiscal Budget and are proposed as a Standard Act of Parliament.
2.02 || The enactment of the instruments of fiscal policy are subject to the following: 2.02a || Fiscal Budgets are proposed to a Joint Session of Parliament by a member of HM Government every three calendar months, wherein Parliament may vote to adopt or dismiss the budget by a simple majority. 2.02b || There are four fiscal seasons in a year. They are the: 2.02b I || The Spring Season, proposed for January - March; 2.02b II || The Summer Season, proposed for April - June; 2.02b III || The Autumn Season, proposed for July - September; 2.02b IV || The Winter Season, proposed for October - December. 2.02c || If a new Session occurs during a fiscal season with a budget already in force, HM Government has the right to propose a new budget to replace the current for the remainder of the season.
2.03 || Within four days of the budget's expiration, a new budget must be proposed. 2.03a || If a budget is not proposed within the four day period, Parliament shall enter an immediate Joint Session to build and pass a budget.
Article III || Required Line Items
3.00 || Any proposed budget submitted to Parliament may propose the following: 3.00a || The amount of money, if any, that HM Treasury requests to inject or to remove; 3.00b || Rates of taxation and their thresholds; 3.00c || Salaries of employees of HM Government; 3.00d || The repayment and collection of loans that the Treasury owes/is owed; 3.00e || Fees charged to applicants for Government-managed services; 3.00f || The amount that users may earn per post or per thread created on the forum in each board and sub-board; 3.00g || Discretionary Funds and Allowances for Public Institutions and the Royal Family; 3.00h || The allowances periodically received by recipients of royal and military honours, decorations, and medals; 3.00i || Any other means of sourcing or spending public funds that HM Government deems suitable for proposal in the budget.
Article IV || Jurisdiction and Regulations
4.00 || A new budget shall retain jurisdiction over the expenditure of HM Government until: 4.00a || A new budget received Royal Assent; 4.00b || Parliament votes by simple majority to alter the jurisdiction of the budget or amend the budget;
4.01 || The most recently approved budget is suspended either by: 4.01a || The Sovereign, via Order-in-Council; 4.01b || Parliament, via simple majority vote.
Article V || Ratification
5.00 || This Act shall come into effect upon passage by both Houses of Parliament with a simple majority and assent by the Sovereign or other authority as established under the Monarchy Act of 2021.