Budget Responsibility Act 2024

September 9, 2024

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<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-1"><num>1</num><heading>Announcement of fiscally significant measures</heading><subsection eId="section-1-1"><num>(1)</num><content>Part 1 of the Budget Responsibility and National Audit Act 2011 (budget responsibility) is amended as follows.</content></subsection><subsection eId="section-1-2"><num>(2)</num><intro>In section 4 (main duty of the Office for Budget Responsibility), in subsection (2)—</intro><level class="para1" eId="section-1-2-a"><num>(a)</num><content><mod>after “duties imposed” insert <quotedText>“on the Office”</quotedText>;</mod></content></level><level class="para1" eId="section-1-2-b"><num>(b)</num><content><mod>at the end insert <quotedText>“and section 4A.”</quotedText></mod></content></level></subsection><subsection eId="section-1-3"><num>(3)</num><content><mod>After section 4 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>4A</num><heading>Announcement of fiscally significant measures</heading><subsection eId="d25e131"><num>(1)</num><intro>If a Minister of the Crown is proposing to make a fiscal announcement to the House of Commons in respect of—</intro><level class="para1"><num>(a)</num><content>a measure which is fiscally significant, or</content></level><level class="para1"><num>(b)</num><content>two or more measures where any combination of the measures is fiscally significant,</content></level><wrapUp>the Treasury must, before the announcement, request the Office to prepare a section 4(3) report that takes account of the measure or measures.</wrapUp></subsection><subsection eId="d25e151"><num>(2)</num><intro>If, in the case of a measure in respect of which a request was required to be made in accordance with <ref href="#section-1-1">subsection (1)</ref> and in respect of which no such request has been made, the Office is of the opinion that the measure (either alone or in combination with other such measures) is fiscally significant, the Office must as soon as is reasonably practicable—</intro><level class="para1"><num>(a)</num><content>notify the Treasury Committee of the House of Commons of its opinion, and</content></level><level class="para1"><num>(b)</num><content>prepare a report that includes a costing for the measure (which may, but need not, be a section 4(3) report).</content></level></subsection><subsection><num>(3)</num><content>A measure or combination of measures is “fiscally significant” if the measure, or combination of measures, has a costing for a specified period that exceeds a specified percentage of the gross domestic product for a specified period.“<term refersTo="#term-specified">Specified</term>” means specified in, or determined in accordance with, the Charter for Budget Responsibility.</content></subsection><subsection><num>(4)</num><intro><ref href="#d25e131">Subsections (1)</ref> and <ref href="#d25e151">(2)</ref> do not apply in respect of a measure which—</intro><level class="para1"><num>(a)</num><content>is intended to have effect for a temporary period only, and</content></level><level class="para1"><num>(b)</num><content>is in response to an emergency.</content></level></subsection><subsection><num>(5)</num><content>The Charter may make provision for the purpose of supplementing this section (including provision about the meaning of expressions used in the preceding subsections that are not defined elsewhere in this section or in other provisions of this Act).</content></subsection><subsection><num>(6)</num><content>If the Treasury proposes to modify the Charter so as to include provision by virtue of this section, a draft of the proposed provision must be published at least 28 days before the modified Charter is laid before Parliament under section 1(6).</content></subsection><subsection><num>(7)</num><intro>In this section—</intro><hcontainer name="definition"><content>“<term refersTo="#term-fiscal-announcement">fiscal announcement</term>” means an announcement in respect of any matter mentioned in section 1(2)(c);</content></hcontainer><hcontainer name="definition"><content>“<term refersTo="#term-minister-of-the-crown">Minister of the Crown</term>” has the same meaning as in the Ministers of the Crown Act 1975;</content></hcontainer><hcontainer name="definition"><content>“<term refersTo="#term-request">request</term>” means a request made in accordance with the Charter (whether the request is described in the Charter as a commission or in some other way);</content></hcontainer><hcontainer name="definition"><content>“<term refersTo="#term-section-4(3)-report">section 4(3) report</term>” means a report under section 4 which contains forecasts and an assessment under subsection (3) of that section.</content></hcontainer></subsection><subsection><num>(8)</num><content>It does not matter for the purposes of this section whether or not two or more measures are, or are proposed to be, announced at the same time or at different times.</content></subsection><subsection><num>(9)</num><content>Paragraph 29 of Schedule 1 applies in respect of the reference in this section to the Treasury Committee of the House of Commons as it applies in respect of references to that Committee in Schedule 1.</content></subsection></section></quotedStructure></mod></content></subsection></section>

<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-1"><num>(1)</num><content>Part 1 of the Budget Responsibility and National Audit Act 2011 (budget responsibility) is amended as follows.</content></subsection>

<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-2"><num>(2)</num><intro>In section 4 (main duty of the Office for Budget Responsibility), in subsection (2)—</intro><level class="para1" eId="section-1-2-a"><num>(a)</num><content><mod>after “duties imposed” insert <quotedText>“on the Office”</quotedText>;</mod></content></level><level class="para1" eId="section-1-2-b"><num>(b)</num><content><mod>at the end insert <quotedText>“and section 4A.”</quotedText></mod></content></level></subsection>

<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-1-3"><num>(3)</num><content><mod>After section 4 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>4A</num><heading>Announcement of fiscally significant measures</heading><subsection eId="d25e131"><num>(1)</num><intro>If a Minister of the Crown is proposing to make a fiscal announcement to the House of Commons in respect of—</intro><level class="para1"><num>(a)</num><content>a measure which is fiscally significant, or</content></level><level class="para1"><num>(b)</num><content>two or more measures where any combination of the measures is fiscally significant,</content></level><wrapUp>the Treasury must, before the announcement, request the Office to prepare a section 4(3) report that takes account of the measure or measures.</wrapUp></subsection><subsection eId="d25e151"><num>(2)</num><intro>If, in the case of a measure in respect of which a request was required to be made in accordance with <ref href="#section-1-1">subsection (1)</ref> and in respect of which no such request has been made, the Office is of the opinion that the measure (either alone or in combination with other such measures) is fiscally significant, the Office must as soon as is reasonably practicable—</intro><level class="para1"><num>(a)</num><content>notify the Treasury Committee of the House of Commons of its opinion, and</content></level><level class="para1"><num>(b)</num><content>prepare a report that includes a costing for the measure (which may, but need not, be a section 4(3) report).</content></level></subsection><subsection><num>(3)</num><content>A measure or combination of measures is “fiscally significant” if the measure, or combination of measures, has a costing for a specified period that exceeds a specified percentage of the gross domestic product for a specified period.“<term refersTo="#term-specified">Specified</term>” means specified in, or determined in accordance with, the Charter for Budget Responsibility.</content></subsection><subsection><num>(4)</num><intro><ref href="#d25e131">Subsections (1)</ref> and <ref href="#d25e151">(2)</ref> do not apply in respect of a measure which—</intro><level class="para1"><num>(a)</num><content>is intended to have effect for a temporary period only, and</content></level><level class="para1"><num>(b)</num><content>is in response to an emergency.</content></level></subsection><subsection><num>(5)</num><content>The Charter may make provision for the purpose of supplementing this section (including provision about the meaning of expressions used in the preceding subsections that are not defined elsewhere in this section or in other provisions of this Act).</content></subsection><subsection><num>(6)</num><content>If the Treasury proposes to modify the Charter so as to include provision by virtue of this section, a draft of the proposed provision must be published at least 28 days before the modified Charter is laid before Parliament under section 1(6).</content></subsection><subsection><num>(7)</num><intro>In this section—</intro><hcontainer name="definition"><content>“<term refersTo="#term-fiscal-announcement">fiscal announcement</term>” means an announcement in respect of any matter mentioned in section 1(2)(c);</content></hcontainer><hcontainer name="definition"><content>“<term refersTo="#term-minister-of-the-crown">Minister of the Crown</term>” has the same meaning as in the Ministers of the Crown Act 1975;</content></hcontainer><hcontainer name="definition"><content>“<term refersTo="#term-request">request</term>” means a request made in accordance with the Charter (whether the request is described in the Charter as a commission or in some other way);</content></hcontainer><hcontainer name="definition"><content>“<term refersTo="#term-section-4(3)-report">section 4(3) report</term>” means a report under section 4 which contains forecasts and an assessment under subsection (3) of that section.</content></hcontainer></subsection><subsection><num>(8)</num><content>It does not matter for the purposes of this section whether or not two or more measures are, or are proposed to be, announced at the same time or at different times.</content></subsection><subsection><num>(9)</num><content>Paragraph 29 of Schedule 1 applies in respect of the reference in this section to the Treasury Committee of the House of Commons as it applies in respect of references to that Committee in Schedule 1.</content></subsection></section></quotedStructure></mod></content></subsection>

<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2"><num>2</num><heading>Extent, commencement and short title</heading><subsection eId="section-2-1"><num>(1)</num><content>This Act extends to England and Wales, Scotland and Northern Ireland.</content></subsection><subsection eId="section-2-2"><num>(2)</num><content><ref href="#section-1">Section 1</ref> comes into force on such day as the Treasury may by regulations made by statutory instrument appoint.</content></subsection><subsection eId="section-2-3"><num>(3)</num><content>Different days may be appointed for different purposes.</content></subsection><subsection eId="section-2-4"><num>(4)</num><content>This Act may be cited as the Budget Responsibility Act 2024.</content></subsection></section>