Ann McGauran 17 July 2024

King's Speech: OBR handed beefed-up scrutiny role

Kings Speech: OBR handed beefed-up scrutiny role image
Image: wutzkohphoto / Shutterstock.com

The Government has put fiscal stability in the form of a Budget Responsibility Bill at the heart of the King's Speech.

The new bill will ensure a beefed-up role for the Office for Budget Responsibility (OBR).

The OBR will be handed responsibility under the bill for independently assessing all significant tax and spending changes.

Stability would be the cornerstone of his Government's economic policy, said the King, ‘and every decision will be consistent with its fiscal rules'.

Bills will also be brought forward to strengthen audit and corporate governance, alongside pension investment [Draft Audit Reform and Corporate Governance Bill and the Pension Schemes Bill].

Ahead of the speech, Prime Minister Sir Keir Starmer said: ‘We are making sure nobody can play fast and loose with public finances – and that we avoid chaos which leaves families with spiralling bills.

‘A new bill will strengthen the role of the Office of Budget Responsibility, meaning significant fiscal announcements must be properly scrutinised and that taxpayers' money is respected.'

SIGN UP
For your free daily news bulletin
Highways jobs

Revenues and Benefits Administration Officer

West Northamptonshire Council
£26914 - £27781
The Revenues and Benefits Administration Officer at West Northamptonshire Council provides essential administrative support across the Revenues and Benefits team. The role involves managing emails, indexing documents, raising orders and supporting financi Northampton
Recuriter: West Northamptonshire Council

Strategic Commissioning Manager (Markets Team Manager)

The Royal Borough of Kensington & Chelsea Council
Negotiable
Drive real change in your community - shape the future of careDrive real change in your community - shape the future of careAt the Royal Borough of Ke England, London, City of London
Recuriter: The Royal Borough of Kensington & Chelsea Council

Social Worker - Family Finding, Adoption Mid Essex

Essex County Council
£34902.0000 - £50081.0000 per annum
Social Worker - Family Finding, Adoption Mid EssexPermanent, Full Time£34,902 to £50,081 per annum Location
Recuriter: Essex County Council

Sheltered Housing Officer

The Royal Borough of Kensington & Chelsea Council
£33291 - £34291 per annum
Support residents to live independently in safe, welcoming homes - making every day easier, safer and more connected.Support residents to live indepen England, London, City of London
Recuriter: The Royal Borough of Kensington & Chelsea Council

Team Leader

Durham County Council
Grade 8 £32,597 - £36,363
Salary
Recuriter: Durham County Council
Linkedin Banner