Overview

This Supply and Appropriation (Anticipation and Adjustments) Bill authorises government spending for the financial years 2022-23 and 2021-22, making adjustments to previously approved budgets, and provides a "Vote on Account" for 2023-24, essentially setting a preliminary budget before the full budget is determined.

Description

The bill covers several key aspects of government finance:

Vote on Account 2023-24:

Authorises up to £463.741 billion in spending for the year ending 31 March 2024, broken down into £370.589 billion for current purposes and £93.153 billion for capital purposes. The Treasury is authorised to issue and apply up to £374.554 billion.

Further Supplementary Provision 2022-23:

Adjusts the 2022-23 budget. It reduces the overall authorised amount by £1.987 billion, increases current spending authorisation by £10.851 billion, and reduces capital spending authorisation by £12.838 billion. Treasury's authorisation to issue and apply money is reduced by £24.497 billion. These changes are backdated to 1 April 2022.

Excesses for 2021-22:

Authorises an additional £2.457 billion to cover overspending in 2021-22, all allocated to current purposes. This increase is also backdated to 1 April 2021.

The bill includes Schedules 1 and 2, detailing the specific adjustments to spending across various government departments for 2022-23 and 2021-22 respectively. These schedules are extensive and list many departments and their specific budget changes (both increases and decreases) and related income changes.

Government Spending

The bill authorises significant adjustments to existing budgets for 2021-22 and 2022-23, and provides a preliminary budget for 2023-24. Specific figures are detailed within the bill for each financial year and department, including adjustments for overspending and reallocations of funds between current and capital expenditure. The overall impact on government spending will vary substantially based on individual department adjustments.

Groups Affected

• Government Departments: All government departments will be affected by the budget adjustments and reallocations outlined in Schedules 1 and 2. The impact will vary depending on the specifics of each department's allocations.
• Public Sector Bodies: Numerous public sector bodies and agencies receive funding through the government departments, and will be impacted accordingly by budget changes.
• Taxpayers: The bill's impact on taxation will depend on the government's overall fiscal strategy and revenue projections. Any increases in spending will likely be influenced by taxation policies.
• Recipients of Government Services: Individuals and groups relying on government services (health, education, welfare etc.) could be affected by changes in funding for these services.

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