OBR to give evidence to Lords inquiry on the UK’s fiscal framework

At 3pm on Tuesday 2 December, the House of Lords Economic Affairs Committee will hear evidence from:

• Sir Robert Chote, former Chair, Office for Budget Responsibility (OBR)
• Andy King, former Member, Budget Responsibility Committee.

This evidence session is part of the committee's inquiry on the effectiveness of the UK's fiscal framework and its effect on the Government's fiscal policy.

The session is open to the public and 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:

• Given the long-term trend for rising government borrowing, what has been the effect of the OBR?
• Have fiscal rules and watchdogs changed the role that bond markets play in enforcing fiscal discipline?
• Do the UK's existing fiscal rules – and particularly the fixed-year timeframes they stipulate – inhibit a countercyclical response to a downturn?
• Is it fair to describe the OBR as policing government policy?
• Should the OBR's mandate be changed?
• Could the process by which the OBR reports and communicates its analyses be improved?