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Mr George Osborne - HM Treasury

Today I have published a draft updated Charter for Budget Responsibility, a copy of which has been deposited in the Libraries of both Houses. Copies are also available in the Vote Office and Printed Paper Office. Alongside the new fiscal framework (announced at Summer Budget 2015), the draft includes the updates to the Charter recommended by the HM Treasury review of the Office for Budget Responsibility, led by Sir Dave Ramsden and clarifications on the operation of the welfare cap.

The draft Charter includes modified guidance to the Office for Budget Responsibility and has been published in line with Section 6(4) of the Budget Responsibility and National Audit Act. This requires that if the Treasury proposes to modify the guidance to the Office for Budget Responsibility included in the Charter, a draft of the modified guidance must be published at least 28 days before the modified Charter is laid before Parliament. The updated Charter will be laid before Parliament, and a debate and vote scheduled, later in the autumn of 2015.

 


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