Charter for Budget Responsibility: autumn 2015 update
The Charter for Budget Responsibility sets out the government’s approach to fiscal policy and management of the public finances.
Ref: ISBN 978-1-910835-60-9, PU1855 Unnumbered act paper PDF, 428KB, 20 pages
Ref: ISBN 978-1-910835-55-5, PU1849 PDF, 431KB, 20 pages
The Charter for Budget Responsibility sets out the government’s fiscal and debt management policy and how this will operate. This includes the government’s fiscal and debt management objectives and its targets which will deliver these objectives (the “fiscal mandate”). The Charter for Budget Responsibility is provided for by the Budget Responsibility and National Audit Act 2011.
This updated version was initially published in draft in September 2015. Alongside the new fiscal framework (announced at Summer Budget 2015), it includes the updates to the Charter recommended by the HM Treasury review of the Office for Budget Responsibility, led by Sir Dave Ramsden and clarifications on the operation of the welfare cap.