Sovereign Grant Act 2011
Progress of the Bill
Bill started in the House of Commons
- House of Commons
- House of Lords
- Royal Assent
- Royal Assent 18 October, 2011 | 18.10.2011
Act of Parliament
|Sovereign Grant Act 2011 c.15||19.10.2011|
Latest news on the Sovereign Grant Act 2011
Second reading - the general debate on all aspects of the Bill - and all remaining stages - took place on 3 October.
This Bill is known as a "Money Bill". The House of Lords cannot amend Money Bills so committee stage, report stage and third reading are just formalities.
Royal Assent will take place on 18 October. This is the final stage of the Bill’s passage through Parliament when the Bill becomes an Act (law).
Summary of the Sovereign Grant Act 2011
The Bill makes changes to the way in which the monarchy is funded. It replaces the Civil List and other grants that support the Queen’s official duties with a new Sovereign Grant, based on a percentage of the profits of the Crown Estate.
The new grant is designed to deliver at first a broadly similar level of finance in cash terms to what is available at present. There are mechanisms for adjusting the level in future, and for using any significant surplus as a means to reduce the grant. The Sovereign Grant is intended to be a typical government grant that will lead to the royal finances being audited by the National Audit Office, and subjected to full parliamentary scrutiny.
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