Budget Responsibility and National Audit Act 2011

Citation2011 c 4Introduced byJustine Greening, Economic Secretary to the Treasury (Commons)
Lord Sassoon, Commercial Secretary to the Treasury (Lords)Territorial extent England and Wales, Scotland and Northern IrelandDatesRoyal assent22 March 2011 (2011-03-22)Commencement23 March 2011; 4 April 2011^[1]Other legislationRelates toFiscal Responsibility Act 2010History of passage through ParliamentRecords of Parliamentary debate relating to the statute from Hansard, at TheyWorkForYouText of statute as originally enactedText of the Budget Responsibility and National Audit Act 2011 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk.

The Budget Responsibility and National Audit Act 2011 (c. 4) is an Act of the Parliament of the United Kingdom. It provides a statutory footing for the already-established Office for Budget Responsibility, and requires the treasury to set out its approach to fiscal policy in a Charter for Budget Responsibility. It also sets out a new structure for the National Audit Office and repeals the Fiscal Responsibility Act 2010.

It was introduced in the House of Lords by the Commercial Secretary to the Treasury Lord Sassoon, on behalf of the Government, and it received Royal Assent on 22 March 2011.

Office for Budget Responsibility

The Office for Budget Responsibility was initially constituted in shadow form by the Conservative party opposition in December 2009.^[2] It was then formally created by the new government after the general election in May 2010, before being put on a statutory footing by this Act.

The OBR provides independent economic forecasts as background to the preparation of the UK budget.^[3]

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