The Bill was passed without a vote and will now be considered by a Public Bill Committee. This Committee will seek views from the public.
Watch and read the views expressed by MPs who took part in the debate.
Have your say
This Bill has now been sent to a Public Bill Committee for scrutiny and there is a call for written evidence.
Do you have relevant expertise and experience or a special interest in the Budget Responsibility and National Audit Bill?
If so, you can submit your views in writing to the House of Commons Public Bill Committee which is going to consider this Bill.
Guidance for submitting written evidence
Deadline for submissions
The Committee is able to receive written evidence from Tuesday 15 February, when the Bill passes the Second Reading Stage; and will stop receiving written evidence at the end of the Committee stage on Tuesday 8 March.
The sooner you send in your submission, the more time the Committee will have to take it into consideration. The Public Bill Committee is expected to meet for the first time on Tuesday 1 March.
Summary of this Bill
The Bill establishes the Office for Budget Responsibility on a statutory basis, following its creation after the 2010 General Election. It requires the Treasury to publish a Charter for Budget Responsibility setting out its approach to fiscal policy.
The Bill also confirms a new corporate governance structure for the National Audit Office, under a new paid post of Chair, who would develop a joint strategy with the Comptroller and Auditor General.
Keep up to date with all the proceedings on the Education Bill and find out how a Bill becomes an Act of Parliament.
Second reading is the first opportunity for MPs to debate the main principles of the Bill. It usually takes place no sooner than two weekends after first reading.
What happens at second reading?
The Government minister, spokesperson or MP responsible for the Bill opens the second reading debate. The official Opposition spokesperson responds with their views on the Bill. The debate continues with other Opposition parties and backbench MPs giving their opinions.
At the end of the debate, the Commons decides whether the Bill should be given its second reading by voting, meaning it can proceed to the next stage.
What happens after second reading?
The Bill proceeds to committee stage and will be considered in a Public Bill Committee. Each clause (part) and any amendments (proposals for change) to the Bill may be debated.