Consolidated Fund Act 2008

<p>The Bill provides parliamentary authority for funds requested by the Government. It is part of the supply procedure, which is how Parliament grants the Government&rsquo;s requests for resources.</p><p>Two Consolidated Fund (Appropriation) Bills are passed each year, in March and July. They are sometimes referred to simply as Appropriation Bills. These, together with the Consolidated Fund Bill, provide authorisation from Parliament for the resources sought by the Government. Proceedings on the Bill are formal, there is no debate and the Bill goes through &lsquo;on the nod&rsquo;.</p><p> </p><p><strong>Key areas:</strong></p><ul><li>Authorises provision sought in the Spring Supplementary Estimates for 2008/09 and the Statement of Excesses for 2007/08</li><li>Authorises the release of money from the Consolidated Fund, which is the Government&rsquo;s bank account</li><li>Places limits on the purposes for which the money may be spent.</li></ul>