Consultations & legislation
The Budget Responsibility & National Audit Act enhances the transparency and accountability of the UK’s public finances. The legislation establishes the Office for Budget Responsibility (OBR) as part of a reformed fiscal framework and modernises the corporate governance of the National Audit Office (NAO).
The Budget Responsibility and National Audit Bill was presented to Parliament in the House of Lords on 21 November 2010 and received Royal Assent on 22 March 2011.
Further information on the passage of the Act can be found on the Parliament website (opens in new browser window).