Corporate report

Charter for Budget Responsibility

The Charter for Budget Responsibility sets out the government's approach to fiscal policy and management of the public finances.

From:
HM Treasury
Published
4 April 2011
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Documents

PDF, 259 KB, 19 pages

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Details

The Charter is intended to enhance transparency. In relation to the government鈥檚 approach to fiscal policy, the Charter sets out the Treasury鈥檚 fiscal objectives, mandate for fiscal policy and the requirements for the contents of Budgets.

Second, the Charter enhances transparency in respect of the statutory remit of the Office for Budget Responsibility鈥檚 (OBR). The guidance relates to those functions given to the OBR as set out in the . The Charter does not contain any guidance on the OBR鈥檚 methodology, in order to protect the independence of the OBR鈥檚 judgments. The Charter can and does, however, add clarity to the statutory remit, reflecting the particular nature of the OBR鈥檚 role as producer of the UK鈥檚 official forecast, a role which sets it apart from other fiscal councils.

Further information about the OBR can be found on the .

Updates to this page

Published 4 April 2011

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