Policy paper

Office for Budget Responsibility and HM Treasury framework document: May 2014

This publication was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Updated framework document that sets out the broad governance and management rules within which the OBR operates.



This update to the HM Treasury and Office for Budget Responsibility (OBR) Framework document meets the requirement to review the contents of the Framework once every 3 years. Based on the original Framework published in 2011, the update was revised by HM Treasury in consultation with the OBR.

The document sets out the broad governance and management framework within which the OBR operates including its accountability, governance and audit structures.

The Framework also includes at Annex A the formal delegation of the OBR’s financial responsibilities for 2014 to 2015 through to 2017 to 2018, updated from the OBR’s initial budget settlement agreed in 2011.