Budget Responsibility and National Audit Act 2010-12

Act of Parliament

House	Act	Date
	Budget Responsibility and National Audit Act 2011 c. 4	23.03.2011

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Latest news on the Bill

The Bill was presented to Parliament in the House of Lords on 21 November 2010 and completed its stages in the Lords on 7 February 2011.

It was introduced into the House of Commons on 7 February 2011.

The Bill completed its Report stage and third reading on 22 March 2011.

Following agreement by both Houses on the text of the Bill it received Royal Assent on 22 March. The Bill is now an Act of Parliament (law).

Summary of the Bill

The Bill establishes the Office for Budget Responsibility on a statutory basis, following its creation after the 2010 General Election. It requires the Treasury to publish a Charter for Budget Responsibility setting out its approach to fiscal policy.

The Bill also confirms a new corporate governance structure for the National Audit Office, under a new paid post of Chair, who would develop a joint strategy with the Comptroller and Auditor General.

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