Overview

This bill consolidates and updates the existing laws governing the House of Commons Members’ Fund, a fund that provides financial assistance to former Members of Parliament and their dependents. It clarifies the fund's governance, the levy on MPs' salaries that contributes to it, and the Treasury's involvement.

Description

The bill establishes a continued House of Commons Members’ Fund, managed by up to seven trustees appointed by the House of Commons. At least six must be current MPs, with the possibility of one former MP serving as a trustee. The fund makes grants to former MPs and their dependents based on their financial circumstances and the fund's resources.

Funding

The fund is primarily financed through a levy on the salaries of current MPs. This levy is set annually by the House of Commons, with a maximum limit of 0.2% of an MP's salary. The trustees can adjust this levy under certain circumstances. Additionally, the Treasury can contribute up to £215,000 annually, but this is subject to the fund's financial state and the trustees’ assessment of need. Any surplus can be returned to the Treasury.

Governance and Administration

The bill details the powers and procedures of the trustees, including their ability to manage investments, hire staff, and maintain the confidentiality of grant recipients. It also includes provisions for accountability through financial reporting, potentially including audit by the Comptroller and Auditor General.

Legal Changes

The bill repeals several previous Acts related to the Members’ Fund, streamlining the existing legislation. It also updates references to the fund in other relevant tax legislation.

Government Spending

The bill allows for a maximum annual government contribution of £215,000 to the House of Commons Members’ Fund. This amount can be adjusted via Treasury Order, subject to parliamentary approval.

Groups Affected

• Former Members of Parliament: May receive financial assistance from the fund.
• Dependents of former Members of Parliament: May receive financial assistance from the fund.
• Current Members of Parliament: Will contribute to the fund through a levy on their salaries.
• The Treasury: Can contribute to and receive funds from the fund.
• The Comptroller and Auditor General: May be involved in auditing the fund's accounts.

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