Considered in Committee

In the House of Commons, a minister has presented a series of amendments to a bill. The amendments aim to enhance the role and responsibilities of the Office for Budget Responsibility (OBR) in monitoring the government's fiscal policies. One key amendment would allow the OBR to notify the Independent Adviser on Ministers' Interests if it believes that instances where the Treasury did not request a report in advance may be relevant to the Ministerial Code or the functions of the Independent Adviser. This is intended to ensure greater transparency and accountability around the government's fiscal decision-making. Another amendment would require the OBR to assess the impact of fiscally significant measures on the UK's statutory net zero target, ensuring that the government's climate change commitments are considered alongside its fiscal policies. The definition of "fiscally significant" measures is also being broadened to include those that affect the cost of government borrowing, interest rates, or economic growth rates. The minister also proposed amendments to extend the definition of fiscally significant measures to include those with a cumulative impact on public sector net debt or contingent liabilities, even if they fall below the individual costing threshold. This is aimed at capturing the broader fiscal implications of government policies. Additionally, the minister has put forward amendments to require the Treasury to undertake a full consultation with the OBR, the Treasury Committee, and other relevant parties before revising the Charter for Budget Responsibility. This is intended to enhance the transparency and scrutiny of changes to the government's fiscal framework. Overall, the minister's statement outlines a series of proposed amendments that seek to strengthen the OBR's role in monitoring and reporting on the government's fiscal policies, with a particular focus on ensuring alignment with the UK's climate change commitments and broader fiscal implications.