This act was passed to assert the authority of the British government to tax its subjects in North America after it repealed the much-hated Stamp Act. The stamp act was supposed to raise money to pay off the country's enormous debt following eight years of war but it started a revolution.March 1766: Parliament issues the Declaratory Act, which states that the king and Parliament have full legislative power over the colonies. When it began republication on May 21, 1766, it carried notice that a bill to repeal the Stamp Act was being considered in Parliament. But at the same time it passed the Declaratory Act, which stated that the King and Parliament had full legislative authority over the colonies in all matters. On March 18, 1766, George III approved Parliament's repeal of the Stamp Act and its passage of the Declaratory Act. The Boston Port Bill banned the loading or unloading of any ships in Boston harbor. The staple act of 1663- all imports to the colonies must go through. England.