Office for Budget Responsibility

The Office for Budget Responsibility (OBR) is an independent UK agency established in 2010 to provide forecasts and analysis of the UK's public finances. It assesses the government's economic and fiscal performance. The OBR is currently newsworthy due to an ongoing inquiry by the Commons Treasury Committee into its role, performance, forecasting accuracy, and impartiality, 15 years after its creation. Recent events include the OBR raising concerns with the Treasury regarding pre-budget briefings and potential leaks, as revealed in a letter to the committee. The inquiry will consider whether reforms are needed. The OBR's forecasts are crucial for the government's budget planning, and its assessments influence public and business confidence, making its current scrutiny highly relevant to the UK's economic and political landscape.