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Public Debt Management Bill

A Bill to limit government budget deficits; to introduce a ceiling on public debt; and for connected purposes

Originating House

House of Commons

Last Updated

26 April 2013

In Plain English

AI-generated

The Public Debt Management Bill would create a formal rulebook for government borrowing. It would set a legal ceiling on the total national debt and establish limits on yearly deficits, along with requirements for measuring, reporting and overseeing compliance. The aim is to improve long-term fiscal sustainability and transparency in public finances.

Key Points

Establishes a legal cap on total public debt that cannot be exceeded without parliamentary changes.
Introduces limits on annual budget deficits to keep borrowing within sustainable bounds.
Sets out measurement, reporting and parliamentary oversight for debt and deficits.
Applies to central government finances and related public bodies, influencing how public money is borrowed and spent.

Progress

The bill is currently at the second reading in the House of Commons. If it passes this stage, it will move to the committee stage for detailed examination and potential amendments.

Who is affected?

Taxpayers and householdsCentral government departments and public bodiesLocal authorities and other public sector organisationsFinancial markets and government creditorsBusinesses and the wider economyPublic service users

Generated 21 February 2026

Updates & Documents

News (1)

News - Public Debt Management

1 Jan 1970

The Bill failed to complete its passage through Parliament before the end of the session. This means the Bill will make no further progress.

Documents (1)

Bill 29 2012-2013, as introduced

BillCommons

7 Nov 2012

Parliamentary Votes (0)

No recorded votes for this bill yet.

Public Debt Management Bill | TrackPolitics