Office for Budget Responsibility

HM Treasury written question – answered on 22nd February 2018.

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Photo of Lord Blencathra Lord Blencathra Chair, Delegated Powers and Regulatory Reform Committee, Chair, Delegated Powers and Regulatory Reform Committee

To ask Her Majesty's Government what is the role of the Office for Budget Responsibility in economic forecasting, in the light of the Treasury's analysis of the economic impact of Brexit.

Photo of Lord Bates Lord Bates The Minister of State, Department for International Development

The OBR’s remit is set out in the Budget Responsibility and National Audit Act 2011 which is to ‘examine and report on the sustainability of the public finances’. In doing so, the OBR must produce at least two forecasts per financial year which must include the impact of government policy where it can be quantified with reasonable accuracy.

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