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
Veto both consuls. If one disagreed, either could invoke the "intercessio" to block the action of the other. The veto was an essential component of the Roman conception of power being wielded not only to manage state affairs but to moderate and restrict the power of the state's high officials and institutions. In Westminster systems and most constitutional monarchies, the power to veto legislation by withholding the Royal Assent is a rarely used reserve power of the monarch. In practice, the Crown follows the convention of exercising its prerogative on the advice of its chief advisor, the prime minister. Since the