At 3pm on Tuesday 4 November, as part of its new inquiry on the
effectiveness of the UK's fiscal framework and its effect on the
Government's fiscal policy, the House of Lords Economic Affairs
Committee will be hearing evidence from:
- James , Research Director, Resolution
Foundation
- Gemma Tetlow, Chief Economist, Institute for Government.
This evidence session, which is open to the public, will be held
in Committee Room 3 of the House of Lords. It will also be
streamed live and on demand on Parliament TV.
Questions the committee is likely to cover in this session
include:
- What is the value of having a fiscal framework?
- Has the post-1997 era in the UK enjoyed greater fiscal
stability as a result of fiscal rules?
- How should a sufficient fiscal buffer be formulated and what
flexibility, if any, should the rules afford governments to
tackle economic downturns?
- Does the UK's fiscal framework encourage the Government to
prioritise short-term fiscal stability to the detriment of
longer-term planning, particularly with regard to public
investment?
- Should the OBR be responsible for its own macroeconomic
forecast or should it be the responsibility of the Treasury?
- What is your assessment of the OBR's approach to modelling,
especially with respect to dynamic scoring?
Last week the committee published a call for evidence. The
deadline for the submission of written evidence is 23:59 on
Monday 1 December 2025.
