Veto veto ("withholding Royal Assent") was last exercised in 1708 by Queen Anne with the Scottish Militia Bill 1708. The House of Lords used to have an effective power of veto by refusing to concur in bills adopted by the House of Commons. However, reform first by a Liberal government and then by a Labour government has limited its powers. The Parliament Acts of 1911 and 1949 reduced its powers: they can now only amend and delay legislation. They can delay legislation for up to one year. Under the 1911 Act, money bills (those concerning finance) cannot be delayed, and under
Parliament Act 1911 is the same bill that has been rejected twice. The 1911 Act made clear that the life of a parliament could not be extended without the consent of the Lords. Parliament had been limited to a maximum of seven years under the Septennial Act 1716, but the Parliament Act 1911 amended the Septennial Act to limit Parliament to five years, reckoned from the first meeting of Parliament after the election. In practice, no election was absolutely forced by that limitation; until the Septennial Act was repealed by the Fixed-term Parliaments Act 2011, all parliaments were dissolved by the Monarch under