Parliamentary Budget Office
| Parliamentary Budget Office | |
|---|---|
| File:Logo-pbo.png | |
| Type | Parliamentary office |
| Central Office |
Parliament House Kingsbury, CENT |
| Employees | 95 |
| Annual budget | £725,000 |
| Senior executive | |
| Director-General | Timothy Ackerman |
The Parliamentary Budget Office or PBO is an agency of the Parliament of New Ingerland that provides economic data to all Senators and Member of the House of Assembly. The PBO was created as an independent and non-partisan agency by the Parliamentary Budget Office Act in 2003 in the wake of controversies surrounding the impartiality of the Treasury.
Function and role
Whilst the Cabinet of New Ingerland is able to draw upon the resources of the Treasury for estimating revenues and any estimates required by any Minister of State, the Parliamentary Budget Office serves a parallel purpose in allowing Senators and Members access to reliable data to estimate such revenues, as well as projections on any public debts or surpluses and the cost estimates for any Bills that have been brought before the Parliament. Such findings are published each year in a number of reports, which are made available free of charge to all interested parties.
Furthermore, during a general election, all parties are required by convention to submit the costings of all election promises for auditing. These costings are usually released seven to fourteen days before the poll, allowing each of the parties to critically analyse the outcome of these audits and conduct a public debate on the merits and shortcomings of each parties promises
Directors-General of the Parliamentary Budget Office
The Director-General is the head of the Parliamentary Budget Office, and is appointed by the King on the advice and consent of a two-thirds majority of a committee of both Houses sitting together as the Joint Committee for Parliamentary Appointments. The confirmation comes only after a lengthy open hearing process, where the committee examines the credentials of all candidates and makes a recommendation to both Houses of the Parliament on the most appropriate candidate to the be appointed Director-General.
The term of office for a Director-General is four years, with no limit on the number of terms a Director-General may serve. A Director-General may be removed by a free vote of either House if it so wishes. At the expiration of a term of office, the person serving as Director-General may continue in the position until his or her successor is appointed.