Section 254 | Fiscal mandate assessments prepared by the Office for Budget Responsibility

(1)In section 4 of the Budget Responsibility and National Audit Act 2011 (main duty of the Office for Budget Responsibility)—

(a)in subsection (3) (matters to be prepared on at least two occasions for each financial year), omit paragraph (b) (assessment of the fiscal mandate) and the “and” before it, and

(b)in subsection (4) (matters to be prepared on at least one occasion for each financial year), before paragraph (a) insert—

(za)an assessment of the extent to which the fiscal mandate has been, or is likely to be, achieved,

.

(2)In consequence of the amendments made by subsection (1), in section 4A of that Act (announcement of fiscally significant measures), in subsection (7), in the definition of a “section 4(3) report”, omit “and an assessment”.

(3)The amendments made by this section have effect in relation to the financial year beginning with April 2025 and subsequent financial years.