Office for Budget Responsibility

E11445

government agency of the United Kingdom independent fiscal institution

The Office for Budget Responsibility is the United Kingdom’s independent fiscal watchdog, responsible for producing economic forecasts and assessing the sustainability of public finances.

Aliases (2)

Office for Budget Responsibility (framework and remit setting) ×1
the Office for Budget Responsibility to evaluate the government’s performance against its fiscal targets ×1

Statements (47)

Predicate	Object
instanceOf	government agency of the United Kingdom → independent fiscal institution →
appliesToJurisdiction	United Kingdom public sector →
chairperson	Richard Hughes →
country	United Kingdom →
createdBy	Conservative–Liberal Democrat coalition government →
employs	economists → fiscal analysts →
foundedBy	Government of the United Kingdom →
hasMainResponsibility	assessing the sustainability of the UK public finances → evaluating the government’s performance against its fiscal targets → producing fiscal risk assessments → producing long-term fiscal projections → producing official economic forecasts for the UK government → scrutinising the costing of tax and welfare measures →
headquartersLocation	London →
inception	2010 →
independenceFrom	HM Treasury →
isDescribedAs	United Kingdom’s independent fiscal watchdog →
isPartOfCategory	Fiscal councils → Government agencies of the United Kingdom → Public finance of the United Kingdom →
jurisdiction	United Kingdom →
languageOfWorkOrName	English →
legalBasis	Budget Responsibility and National Audit Act 2011 →
locatedInTheAdministrativeTerritorialEntity	England →
locatedInTimeZone	Europe/London →
mandateIncludes	analysing long-term demographic and economic pressures on the public finances → assessing whether the government is likely to meet its fiscal targets → identifying and analysing fiscal risks → producing five-year forecasts for the economy and public finances →
officeHeldByChairpersonSince	2020 →
oversightBy	HM Treasury Select Committee →
partOf	United Kingdom public sector financial framework →
precededBy	HM Treasury internal forecasting process →
publishes	Economic and fiscal outlook → Fiscal risks report → Fiscal sustainability report → Forecast evaluation report → Welfare trends report →
reportsTo	Parliament of the United Kingdom →
sector	macroeconomic forecasting → public finance →
shortName	OBR →
usesMethod	fiscal sustainability analysis → macroeconomic modelling →
website	https://obr.uk →

Referenced by (20)

Subject (surface form when different)	Predicate
HM Treasury ("Office for Budget Responsibility (framework and remit setting)") → HM Treasury → Treasury of the United Kingdom →	oversees
HM Treasury → HM Treasury →	collaboratesWith
Economic and fiscal outlook → Welfare trends report →	publishedBy
Fiscal risks report → Forecast evaluation report →	publisher
Chancellor of the Exchequer →	associatedWith
Fiscal risks report →	author
Budget Responsibility and National Audit Act 2011 →	creates
Richard Hughes →	employer
Budget Responsibility and National Audit Act 2011 →	establishes
OBR →	fullName
Autumn Statement →	monitoredBy
Fiscal risks report →	producedBy
Fiscal risks report →	regulator
Budget Responsibility and National Audit Act 2011 ("the Office for Budget Responsibility to evaluate the government’s performance against its fiscal targets") →	requires
HM Treasury Select Committee →	scrutinises