The Chancellor launched the interim Office for Budget
Responsibility on 17 May 2010. Until there is a statutory basis for
the new arrangements, the Comptroller & Auditor General’s
duties under the 1998 Finance Act remain. Under the Act, he has a
duty to examine and report on conventions and assumptions
underlying the fiscal projections that are submitted to him by the
Treasury for examination.
To reflect the interim arrangements, the Chancellor has
requested that the Comptroller & Auditor General examine
whether key economic and fiscal assumptions underpinning the
interim Office for Budget Responsibility’s forecasts were
independently arrived at.
Publication details:
22 June 2010