Charter for Budget Responsibility

George Osborne Excerpts

Wednesday 8th July 2015 Written Statements

[The First Secretary of State and Chancellor of the Exchequer (Mr George Osborne)]

Today I have published a draft updated “Charter for Budget Responsibility”, copies of which have been deposited in the Libraries of both Houses. It sets out a new fiscal framework to entrench a commitment to reach surplus and maintain it in normal times.

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, in the autumn of 2015.

Attachments can be viewed online at: http://www.parliament.uk/writtenstatements

[HCWS87]