Contribution
With this is will be convenient to take the following:
Amendment 2, page 1, line 25, at end insert—
“(2A) In any case where the Office has acted in accordance with subsection (2), it may notify the Independent Adviser on Ministers’ Interests of the circumstances in any case where it considers those circumstances may be relevant to—
(a) the Ministerial Code, or
(b) the functions of the Independent Adviser on Ministers’ Interests.”
This amendment enables the OBR to notify the Independent Adviser on Ministers’ Interests where the OBR considers that any instance where the Treasury had not requested a report under section 4A(1) in advance may give rise to consideration of compliance with the Ministerial Code.
Amendment 5, page 1, line 25, at end insert—
“(2A) Where the OBR prepares a report in accordance with subsection (1) or (2), it must take account of the impact of the measure or measures on—
(a) the UK’s compliance with, and
(b) the fiscal cost of meeting,
the UK’s net zero target as set in section 1(2) of the Climate Change Act 2008.”
This amendment requires the OBR to report on the impact of fiscally significant measures announced by Government on the UK’s statutory net zero target.
Amendment 1, page 2, line 4, at end insert “or
(b) the measure, or combination of measures, is likely to have an impact on—
(i) the cost of government borrowing,
(ii) interest rates, or
(iii) the rate of growth of gross domestic product.”
This amendment broadens the definition of fiscally significant measures to those which fall below the costing threshold, but have wider fiscal effects, by affecting either the cost of government borrowing, interest rates or rates of economic growth.
Amendment 6, page 2, line 4, at end insert
“or if the condition in subsection (3A) is met.”
See the statement for Amendment 7.
Amendment 7, page 2, line 6, at end insert—
“(3A) The condition in this subsection is that the measure, or combination of measures, forms part of category of measures with a cumulative impact on—
(a) public sector net debt,
(b) public sector contingent liabilities, or
(c) both,
that exceeds a specified percentage of the gross domestic product for a specified period.
“Specified” means specified in, or determined in accordance with, the Charter for Budget Responsibility”
The purpose of this amendment is to extend the definition of fiscally significant measures to include measures with a cumulative impact on public sector net debt or contingent liabilities when taken together with other measures in the same category, such as public projects with private sector partners.
Amendment 3, page 2, line 16, leave out “28” and insert “56”.
See the statement for Amendment 4.
Amendment 4, page 2, line 17, at end insert—
“(6A) After the publication of a draft under subsection (6), the Treasury must consult—
(a) the Office for Budget Responsibility,
(b) the Treasury Committee of the House of Commons, and
(c) such other persons as the Treasury considers appropriate.
(6B) When a modified Charter so as to include provision by virtue of this section is laid before Parliament, the Treasury must also lay before Parliament a report on the outcome of consultation under subsection (6A).”
The purpose of this amendment is to impose a requirement on the Treasury to undertake a full consultation and publish the outcome of that consultation prior to revision of the Charter for the purposes of the Bill.
Clause 1 stand part.
Clause 2 stand part.
Amendment 10, Title, after “measures” insert
“and of any changes to the government’s fiscal targets”.
This amendment is consequential to Amendment 9. It would amend the long title of the Bill.