Budget Process in the U.S. and the U.K.
Robert Chote, the director of the United Kingdom's Office of Budget Responsibility, discussed the budget process in the U.K and compared it to the process of the U.S.
Description
Robert Chote, the director of the United Kingdom’s Office of Budget Responsibility, discussed the budget process in the U.K and compared it to the process in the United States.
Bell Ringer Assignment
- Explain background and purpose of the Office of Budget Responsibility in the United Kingdom.
- Describe the four main tasks of the Office of Budget Responsibility.
- Explain the key differences of the Office of Budget Responsibility in the U.K. compared to the role of the Office of Management and Budget in the United States.
- What was the rational in creating the Office of Budget Responsibility in the United Kingdom?
- What were the two objectives in creating the Office of Management and Budget. Why were each of these important?
Participants
Vocabulary
- Budget Deficit
- Disaggregation
- Fiscal Projection
- Gross Domestic Product
- Institution
- Office Of Budget Responsibility
- Office Of Management And Budget
- Parliament
- Private Sector
- Public Sector
- Social Security
- Transparency
- Welfare