The government has tabled amendments to the Budget Responsibility Bill 2024-25 for consideration at the Bill's whole House of Commons Committee.
The latest amendments to the Budget Responsibility Bill include:
the Office for Budget Responsibility (OBR) can notify the Independent Adviser on Ministers’ Interests if it believes circumstances may be relevant to the Ministerial Code;
the definition of fiscally significant measures now includes those affecting government borrowing costs, interest rates or economic growth, even if they fall below the costing threshold;
a requirement for the Treasury to request a report from the OBR before concluding negotiations that could lead to fiscally significant changes to the UK’s trading relationships;
the period for consultation on the draft Charter to be extended from 28 to 56 days; and
the Treasury must consult the OBR, the Treasury Committee of the House of Commons, and other appropriate persons before revising the Charter.
Final stages are scheduled to take place on 4 September 2024.
The government has tabled amendments to the Budget Responsibility Bill 2024-25 for consideration at the Bill's whole House of Commons Committee.
The latest amendments to the Budget Responsibility Bill include:
the Office for Budget Responsibility (OBR) can notify the Independent Adviser on Ministers’ Interests if it believes circumstances may be relevant to the Ministerial Code;
the definition of fiscally significant measures now includes those affecting government borrowing costs, interest rates or economic growth, even if they fall below the costing threshold;
a requirement for the Treasury to request a report from the OBR before concluding negotiations that could lead to fiscally significant changes to the UK’s trading relationships;
the period for consultation on the draft Charter to be extended from 28 to 56 days; and
the Treasury must consult the OBR, the Treasury Committee of the House of Commons, and other appropriate persons before revising the Charter.
Final stages are scheduled to take place on 4 September 2024.
