Moved by
Baroness McIntosh of Pickering
92: Schedule 1, page 132, line 41, at end insert—
“(3) The OEP must as soon as practicable prepare a budget for the following five financial years, and then a budget every five financial years thereafter.
(4) The OEP must—
(a) arrange for the budget to be laid before Parliament, and
(b) publish it.
(5) The budget must—
(a) include—
(i) an estimate as respects resource requirements;
(ii) the proposed amount of funding required;
(b) be accompanied by information as to the OEP’s projected work plan for the next five financial years.
(6) The OEP may revise the budget at any time (and sub-paragraph (4) applies to any revised budget).
(7) Before preparing or revising the budget, the OEP must consult the Secretary of State and such persons as it considers appropriate.
Member’s explanatory statement
This amendment has the effect of introducing a requirement for the OEP to prepare a five-year budget which is subject to consultation.