The Office for Budget Responsibility

Date: 28 June 2010
Contacts: Carl Emmerson , Robert Chote , Rowena Crawford and Gemma Tetlow
IFS researchers have frequently argued that official fiscal forecasts should be made more independent to remove the suspicion that they incorporate politically motivated wishful thinking. In Opposition, the Conservative Party announced plans for an independent Office for Budget Responsibility in line with this recommendation, and this proposal has been taken up by the new Coalition Government. We analysed the design challenges for such a body in the 2009 Scottish Economic Society Annual Lecture and in our 2010 Green Budget. A number of the recommendations we made look likely to be adopted when the body is set up in summer 2010.