European Communities (Finance) Act 2008
Encyclopedia
The European Communities (Finance) Act 2008 (c. 1) is an Act
of the Parliament of the United Kingdom
. It was given Royal Assent
and became law on 19 February 2008.
by the Chancellor of the Exchequer
, Alistair Darling
, on 7 November 2007. The Bill was read for the third time in the House of Commons on 15 January 2008 and passed to the House of Lords
with a vote of 309 for to 208 against.
meeting of December 2005 as recorded in the Council's Decision of 7 June 2007 on the system of the European Communities’ own resources. It does this by amending the introductory paragraph of the European Communities Act 1972
to include reference to the 7 June 2007 decision. The Act supersedes and repeals the European Communities (Finance) Act 2001
.
On 22 May 2008, in answer to a Parliamentary question by Lord Burnett
, Lord Davies of Oldham
provided an estimate on the additional costs to Her Majesty's Treasury as a result of the Act. The total cost was estimated at between £6.3 billion and £7.2 billion for the financial period 2007 to 2013.
Act of Parliament
An Act of Parliament is a statute enacted as primary legislation by a national or sub-national parliament. In the Republic of Ireland the term Act of the Oireachtas is used, and in the United States the term Act of Congress is used.In Commonwealth countries, the term is used both in a narrow...
of the Parliament of the United Kingdom
Parliament of the United Kingdom
The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body in the United Kingdom, British Crown dependencies and British overseas territories, located in London...
. It was given Royal Assent
Royal Assent
The granting of royal assent refers to the method by which any constitutional monarch formally approves and promulgates an act of his or her nation's parliament, thus making it a law...
and became law on 19 February 2008.
Passage of the bill
The legislation was introduced to the House of Commons as the European Communities (Finance) BillBill (proposed law)
A bill is a proposed law under consideration by a legislature. A bill does not become law until it is passed by the legislature and, in most cases, approved by the executive. Once a bill has been enacted into law, it is called an act or a statute....
by the Chancellor of the Exchequer
Chancellor of the Exchequer
The Chancellor of the Exchequer is the title held by the British Cabinet minister who is responsible for all economic and financial matters. Often simply called the Chancellor, the office-holder controls HM Treasury and plays a role akin to the posts of Minister of Finance or Secretary of the...
, Alistair Darling
Alistair Darling
Alistair Maclean Darling is a Scottish Labour Party politician who has been a Member of Parliament since 1987, currently for Edinburgh South West. He served as the Chancellor of the Exchequer from 2007 to 2010...
, on 7 November 2007. The Bill was read for the third time in the House of Commons on 15 January 2008 and passed to the House of Lords
House of Lords
The House of Lords is the upper house of the Parliament of the United Kingdom. Like the House of Commons, it meets in the Palace of Westminster....
with a vote of 309 for to 208 against.
Effect of the Act
The Act passes into UK law the decisions on the European Union budget taken at the European CouncilEuropean Council
The European Council is an institution of the European Union. It comprises the heads of state or government of the EU member states, along with the President of the European Commission and the President of the European Council, currently Herman Van Rompuy...
meeting of December 2005 as recorded in the Council's Decision of 7 June 2007 on the system of the European Communities’ own resources. It does this by amending the introductory paragraph of the European Communities Act 1972
European Communities Act 1972 (UK)
The European Communities Act 1972 is an Act of the Parliament of the United Kingdom providing for the incorporation of European Community law into the domestic law of the United Kingdom. It is not to be confused with the Irish law of the same name, Act No...
to include reference to the 7 June 2007 decision. The Act supersedes and repeals the European Communities (Finance) Act 2001
European Communities (Finance) Act 2001
The European Communities Act 2001 was an Act of the Parliament of the United Kingdom. It was given Royal Assent and became law on 4 December 2001, but was later repealed on 19 February 2008 by the European Communities Act 2008....
.
On 22 May 2008, in answer to a Parliamentary question by Lord Burnett
John Burnett, Baron Burnett
John Patrick Aubone Burnett, Baron Burnett is a Liberal Democrat politician in the United Kingdom, and was a Member of Parliament for Torridge and West Devon between 1997 and 2005 general elections...
, Lord Davies of Oldham
Bryan Davies, Baron Davies of Oldham
Bryan Davies, Baron Davies of Oldham, PC, is a Labour member of the House of Lords. He served as Government Deputy Chief Whip in the House of Lords from 2003 to 2010, and as usual for a holder of that position, also held the position of Captain of the Yeomen of the Guard.He was educated at...
provided an estimate on the additional costs to Her Majesty's Treasury as a result of the Act. The total cost was estimated at between £6.3 billion and £7.2 billion for the financial period 2007 to 2013.