The House of Commons is the lower house of the Parliament of the United Kingdom. Like the upper house, the House of Lords, it meets in the Palace of Westminster in London, England. The House of Commons is an elected body consisting of 650 members known as members of Parliament (MPs). MPs are elected to represent constituencies by the first-past-the-post system and hold their seats until Parliament is dissolved.
The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body of the United Kingdom, and may also legislate for the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster in London. Parliament possesses legislative supremacy and thereby holds ultimate power over all other political bodies in the United Kingdom and the Overseas Territories. While Parliament is bicameral, it has three parts: the sovereign, the House of Lords, and the House of Commons. The three parts acting together to legislate may be described as the King-in-Parliament. The Crown normally acts on the advice of the prime minister, and the powers of the House of Lords are limited to only delaying legislation; thus power is de facto vested in the House of Commons.
An appropriation bill, also known as supply bill or spending bill, is a proposed law that authorizes the expenditure of government funds. It is a bill that sets money aside for specific spending. In some democracies, approval of the legislature is necessary for the government to spend money.
The Lok Sabha, constitutionally the House of the People, is the lower house of India's bicameral Parliament, with the upper house being the Rajya Sabha. Members of the Lok Sabha are elected by an adult universal suffrage and a first-past-the-post system to represent their respective constituencies, and they hold their seats for five years or until the body is dissolved by the President on the advice of the council of ministers. The house meets in the Lok Sabha Chambers of the Parliament House, New Delhi.
The Committee on Ways and Means is the chief tax-writing committee of the United States House of Representatives. The committee has jurisdiction over all taxation, tariffs, and other revenue-raising measures, as well as a number of other programs including Social Security, unemployment benefits, Medicare, the enforcement of child support laws, Temporary Assistance for Needy Families, foster care, and adoption programs. Members of the Ways and Means Committee are not allowed to serve on any other House Committee unless they are granted a waiver from their party's congressional leadership. It has long been regarded as the most prestigious committee of the House of Representatives.
In many states with political systems derived from the Westminster system, a consolidated fund or consolidated revenue fund is the main bank account of the government. General taxation is taxation paid into the consolidated fund, and general spending is paid out of the consolidated fund.
The Parliament of the Democratic Socialist Republic of Sri Lanka is the supreme legislative body of Sri Lanka. It alone possesses legislative supremacy and thereby ultimate power over all other political bodies in the island. It is modeled after the British Parliament.
The treasurerof Australia, also known as the Federaltreasurer or simply the treasurer, is the minister of state of the Commonwealth of Australia charged with overseeing government revenue collection, federal expenditure and economic policy as the head of the Department of the Treasury. The current treasurer is Jim Chalmers, who was selected by Prime Minister Anthony Albanese in May 2022 following the 2022 Australian federal election.
The United States Senate Committee on Finance is a standing committee of the United States Senate. The Committee concerns itself with matters relating to taxation and other revenue measures generally, and those relating to the insular possessions; bonded debt of the United States; customs, collection districts, and ports of entry and delivery; deposit of public moneys; general revenue sharing; health programs under the Social Security Act and health programs financed by a specific tax or trust fund; national social security; reciprocal trade agreements; tariff and import quotas, and related matters thereto; and the transportation of dutiable goods. It is considered to be one of the most powerful committees in Congress.
In the Westminster system, a money bill or supply bill is a bill that solely concerns taxation or government spending, as opposed to changes in public law.
The Joint Committee on Taxation (JCT) is a Committee of the U.S. Congress established under the Internal Revenue Code at 26 U.S.C. § 8001.
In the United Kingdom, the Chairman of Ways and Means is a senior member of the House of Commons who acts as one of the Speaker's three deputies. The incumbent is Dame Eleanor Laing, MP for Epping Forest, who was first elected to the office on 8 January 2020.
A government budget is a projection of the government's revenues and expenditure for a particular period of time often referred to as a financial or fiscal year, which may or may not correspond with the calendar year. Government revenues mostly include taxes while expenditures consist of government spending. A government budget is prepared by the government or other political entity. In most parliamentary systems, the budget is presented to the legislature and often requires approval of the legislature. Through this budget, the government implements economic policy and realizes its program priorities. Once the budget is approved, the use of funds from individual chapters is in the hands of government ministries and other institutions. Revenues of the state budget consist mainly of taxes, customs duties, fees and other revenues. State budget expenditures cover the activities of the state, which are either given by law or the constitution. The budget in itself does not appropriate funds for government programs, hence need for additional legislative measures. The word budget comes from the Old French bougette.
The Canadian federal budget for the fiscal year 2006–2007, was presented to the House of Commons of Canada by Finance Minister Jim Flaherty on May 2, 2006. Among the most notable elements of the federal budget were its reduction of the Goods and Services Tax by one percentage point, income tax cuts for middle-income earners, and $1,200-per-child childcare payment for Canadian parents.
The Chairman of the State Duma of the Federal Assembly of the Russian Federation, also called Speaker (спикер), is the presiding officer of the lower house of the Russian parliament. It is the fourth highest position, after the President, the Prime Minister and the Chairman of the Federation Council, in the government of Russia. His responsibilities include overseeing the day-to-day business of the State Duma, presiding and maintaining order at the regular sessions of the parliament. The Speaker also chairs the Council of the Duma which includes representatives from all the parliamentary parties and determines the legislative agenda.
In the United States Congress, a Christmas tree bill is a political term referring to a bill that attracts many, often unrelated, floor amendments. A Christmas tree bill consists of many riders. The amendments which adorn the bill may provide special benefits to various groups or interests. The term refers to the proposed legislation being subject to having each member of Congress hang their own amendment on it.
An Act of Parliament in the United Kingdom is primary legislation passed by the UK Parliament in Westminster, London.
The Ministry of Finance, abbreviated MOF, is a ministry of the Government of Malaysia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the Malaysian federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Malaysian federal budget to the Parliament.
The 2014 United States federal budget is the budget to fund government operations for the fiscal year (FY) 2014, which began on October 1, 2013 and ended on September 30, 2014.
In Malaysia, federal budgets are presented annually by the Government of Malaysia to identify proposed government revenues and spending and forecast economic conditions for the upcoming year, and its fiscal policy for the forward years. The federal budget includes the government's estimates of revenue and spending and may outline new policy initiatives. Federal budgets are usually released in October, before the start of the fiscal year. All of the Malaysian states also present budgets. Since state finances are dependent on money from the federal government, these budgets are usually released after the federal one.
