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Home > Society and Social Sciences > Politics and government > Office for Budget Responsibility: fourth report of session 2010-11, Vol. 1: Report, together with formal minutes, oral and written evidence(2010-11 385 House of Commons Papers)
Office for Budget Responsibility: fourth report of session 2010-11, Vol. 1: Report, together with formal minutes, oral and written evidence(2010-11 385 House of Commons Papers)

Office for Budget Responsibility: fourth report of session 2010-11, Vol. 1: Report, together with formal minutes, oral and written evidence(2010-11 385 House of Commons Papers)


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About the Book

This is the fourth report from the Treasury Committee (HCP 385, session 2010-11, ISBN 9780215554796), and looks at the Office for Budget Responsibility. The Office was established by the Chancellor of the Exchequer and given responsibility, as an independent body, for the Government's budget forecast. The Committee sets out a number of recommendations for the body to succeed in its' independent role, including: a) establishment of the OBR as an institution with its own legal personality; b) a requirement on the OBR to act transparently, objectively, and independently; c) a clear remit and set of core tasks; d) a requirement that the responsible select committee should have a veto over appointment or dismissal of the Chair; e) provision for a small group of non-executive directors to support the Budget Responsibility Committee; f) a requirement that government officials support the OBR when it is preparing forecasts; g) a requirement that the OBR has a right of access to the information it needs. The legislation establishing the OBR should not require future governments to use OBR forecasts. The Committee further states that a great deal will depend on matters which cannot be provided for directly in statute, in particular the calibre of the members of the Budgetary Responsibility Committee and of the non-executive directors. For the OBR to succeed, it is vital that it commands confidence across party boundaries and that the OBR's work should lead to greater public understanding of the purpose and limitations of the forecasting process, and realistic expectations of what it can deliver.


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Product Details
  • ISBN-13: 9780215554796
  • Publisher: TSO
  • Publisher Imprint: Tso
  • Height: 300 mm
  • No of Pages: 93
  • Series Title: 2010-11 385 House of Commons Papers
  • ISBN-10: 0215554795
  • Publisher Date: 21 Sep 2010
  • Binding: Paperback
  • Language: English
  • Series Title: 2010-11 385 House of Commons Papers
  • Sub Title: fourth report of session 2010-11, Vol. 1: Report, together with formal minutes, oral and written evidence


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Office for Budget Responsibility: fourth report of session 2010-11, Vol. 1: Report, together with formal minutes, oral and written evidence(2010-11 385 House of Commons Papers)
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Office for Budget Responsibility: fourth report of session 2010-11, Vol. 1: Report, together with formal minutes, oral and written evidence(2010-11 385 House of Commons Papers)
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