Fiscal Responsibility Bill (HL Bill 24 of 2009–2010). The Fiscal Responsibility Bill imposes a statutory duty on the Treasury to meet specific targets for the reduction of government borrowing and debt. The Bill gives Parliament a greater role in fiscal policy. It has completed its passage through the House of Commons and is due for its second reading debate in the House of Lords on 10th February 2010. This House of Lords Library Note summarises the second reading debate and the other stages of the Bill’s passage through the House of Commons.