Parliamentary.ai

Overview

This bill amends the European Union Act 2011 to ensure that any future EU treaty, decision, or legal instrument creating a fiscal union or economic governance within the Eurozone requires approval by both the UK Parliament and a public referendum.

Description

The bill mandates that any EU measure establishing a fiscal union or economic governance system within the Eurozone must be approved through two processes:

• Act of Parliament: The measure needs to pass through the UK Parliament.
• Referendum: A public referendum must be held, and the outcome will impact the final decision.

The bill specifies that sections 11 to 13 of the 2011 Act will apply to any referendum held under this new amendment, outlining the procedural aspects of the referendum.

Government Spending

The bill states that any increase in government spending resulting from its implementation will be covered by Parliament's allocated funds. No specific figures are provided.

Groups Affected

The bill primarily affects:

• UK Parliament: Will be involved in the approval process for EU measures concerning Eurozone economic governance and fiscal union.
• UK Public: Will participate in a referendum on any such EU measures.
• UK Government: Will have its powers altered regarding EU agreements on Eurozone governance.