Overview

This bill amends the European Union Act 2011, requiring any future European Union treaty or legal instrument establishing a fiscal union or economic governance within the Eurozone to be approved by both a UK Act of Parliament and a UK-wide referendum.

Description

The core purpose of the European Union Act 2011 (Amendment) Bill is to enhance parliamentary and public scrutiny of significant decisions relating to the Eurozone. Specifically, it mandates that any EU treaty, decision, or legal instrument aiming to create a fiscal union or establish economic governance within the Eurozone must gain approval through two stages:

• Act of Parliament: The proposed measure needs to be passed as a new law by the UK Parliament.
• Referendum: A UK-wide referendum must be held, and the measure must receive public approval via this vote.

The bill incorporates existing sections (11-13) of the European Union Act 2011 to regulate the conduct and outcome of the mandated referendum.

Government Spending

The bill states that any increased government expenditure resulting from its implementation will be funded through Parliament's budget. No specific figures are provided within the text of the bill itself.

Groups Affected

This bill will directly affect:

• UK Parliament: Increased legislative responsibilities due to the requirement for an Act of Parliament.
• UK Electorate: Involvement through the mandatory referendum on Eurozone integration measures.
• Government: Increased potential costs relating to the organization and conduct of the referendum.
• EU Institutions: Any future plans by the EU for significant Eurozone integration would be subject to UK parliamentary and public approval.

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