Overview

This bill amends the Budget Responsibility and National Audit Act 2011 to allow the Office for Budget Responsibility (OBR) to independently scrutinize and certify the policy costings of political parties in the House of Commons. This will provide greater transparency and accountability regarding the financial implications of party manifestos.

Description

The bill mandates the OBR to:

• Scrutinize and certify the costings of any political party's policies submitted within six months of a general election.
• Publish the results of their scrutiny on their website and in the House of Commons Library.
• Scrutinize and certify the costings of any political party represented in the House of Commons upon that party's request, provided sufficient information is given.
• State whether it agrees or disagrees with the party's costings, or if insufficient information was provided to form a judgment.
• The OBR will *not* consider alternative policies, unless requested by a political party.

Government Spending

The bill authorizes the Treasury to spend money from Parliament to cover any costs incurred by the OBR in carrying out its new responsibilities under this Act. No specific figures are provided in the bill text.

Groups Affected

• Political Parties: Will be subject to independent scrutiny of their policy costings, potentially impacting their ability to make campaign promises.
• Office for Budget Responsibility (OBR): Takes on a new responsibility, requiring additional resources and expertise.
• Voters: Will have access to more transparent and independently verified information about the cost of political parties' policy proposals.
• House of Commons: Receives a copy of the OBR's reports for their records.

Powered by nyModel