The Government has introduced to Parliament the Budget Responsibility Bill and published a draft update to related provisions of the Charter for Budget Responsibility.
The Bill would amend the 2011 Budget Responsibility and National Audit Act and require any fiscally significant measures announced by the Government to be accompanied by an independent assessment by the OBR, except in certain circumstances.
On 18 July, the Chancellor wrote to the Chair of the OBR to inform him of the new legislation. We have published her letter alongside Richard Hughes’ response below.