30.Section 2 sets requirements for the Treasury to produce annual budget documentation, specifically the Financial Statement and Budget Report (the “Budget”). The section replaces part of section 156 of the FA 1998 (repealed in section 10). The section removes the requirement on the Treasury (imposed by section 156) to prepare and publish a pre-Budget Report.
31.Subsection (2) requires the Budget to conform to the minimum requirements set out in the Charter as to what must be included in the Budget.
32.Subsections (3) and (4) place duties on the Treasury to lay each Budget before Parliament and publish each Budget.