The beginning of the budgetary year

On January 1st the budgetary year begins, during which the government departments will implement their budgets. The House of Representatives monitors if the Government keeps its promises. Ministers and state secretaries must regularly come to the House to answer questions from MPs about their budget. A budget bill also requires approval from the Senate. However, Senators still have the time to consider a budget bill during the first months of the budgetary year.

Budget cycle
On Prince's Day, the Government presents the National Budget and the Budget Memorandum for the coming budgetary year. Parliament discusses the various documents in the general political and financial debates and the debates on the budgets of the respective ministries, until the Christmas recess. In spring and autumn the minister of Finance reports to the House on the progress in government expenditure and revenue

Accountability Day
On Accountability Day the central government's annual financial report and the annual reports of the respective ministries are presented to the House of Representatives. The financial report is the counterpart of the Budget Memorandum. Accountability Day marks the end of the budget cycle, which started on Prince's Day 18 months earlier.