A group of Members of Parliament has defended the Office for Budget Responsibility (OBR) amid criticisms from across the political spectrum, cautioning against efforts to reform the independent fiscal body. The Treasury Committee emphasized that blaming the OBR for difficult government decisions related to tight public finances is misplaced.

The committee rejected calls to fundamentally overhaul the OBR, which was established in 2010 by then-Chancellor George Osborne to provide impartial forecasts on economic growth and the fiscal impact of tax and spending policies. Instead, MPs suggested that ministers might consider a supplemental 10-year economic forecast to join the existing five- and 50-year projections.

Dame Meg Hillier, chair of the Treasury Committee, addressed critics who have portrayed the OBR as wielding excessive influence over Treasury ministers and officials. She stated that the committee’s review found no evidence to support such claims, describing this depiction as inaccurate.

Hillier explained that the importance of the OBR’s fiscal forecasts increases when government spending is constrained to narrow margins, a situation driven by decisions made by chancellors rather than any overreach by the OBR itself. She underscored that the office’s role becomes critical in enforcing fiscal discipline under such conditions.

The OBR has faced criticism in the past for underestimating the economic consequences of austerity measures implemented during Osborne’s tenure and, more recently, for possibly overestimating economic growth potential. However, the committee’s findings advocate preserving the OBR’s independent status within economic policymaking and public debate.

Hillier concluded by urging that the current political environment calls for maintaining a credible, independent fiscal watchdog rather than attempting to weaken its perceived authority. The Treasury Committee’s position highlights a commitment to sustaining nonpartisan economic analysis amid ongoing policy challenges.