Obr Meaning

The role of the Office is to advise whether the declared policy of the Government is likely to meet its targets The OBR was initially chaired by Sir Alan Budd who, along with Geoffrey Dicks and Graham Parker, formed the Budget Responsibility Committee.

"The OBR operates entirely independently of government and is free to publish its assessments of the economic outlook at a time of its choosing." The OBR 's stress test assumes a temporary recognition of standards and tariffs, before the UK reverts to EU "most favoured nation" tariffs.

The OBR uses its public finance forecasts to assess the Government's performance against its fiscal targets.

The Charter states that the Government remains responsible for policy decisions and costings and the OBR “should not provide normative commentary on the particular merits of Government policies”. It also gives the OBR right of access to all Government information which it may reasonably require for the performance of its duties.