Grant of borrowing powers

36.15Provisions in a bill authorising the Government to raise special loans to meet emergencies or particular categories of Supply expenditure require to be based on a Ways and Means resolution.1 The more routine arrangements for meeting the public sector borrowing requirement, by means of Treasury bills and securities, are authorised by permanent statutory provision.2

Footnotes

  1. 1. War Loan Bill, CJ (1917–18) 193; ibid (1918) 153; Defence Loans Bill, ibid (1936–37) 130; National Loans Bill, ibid (1942–43) 89; Armed Forces (Housing Loans) Bill, ibid (1958–59) 21.
  2. 2. Treasury Bills Act 1877; National Loans Act 1968, ss 12–17 (as amended).