OBR chief not 'at whim' of Chancellor

Laura Miller
clock

The Chancellor will have no power to solely remove the head of the independent Office for Budget Responsibility (OBR), George Osborne has pledged.

The provision will be included in the Finance Bill, which is currently undergoing its third reading in the House of Commons. Only under "exceptional circumstances" would the Chancellor be able to unseat an OBR chairman, Osborne said in a letter to Committee chairman Andrew Tyrie MP. Previously in his evidence to the Committee on the Budget, the Chancellor gave the group of MPs ultimate veto on the appointment of the chair of the OBR. But in his letter he said: "I also wish to ensure that the chair cannot be removed at the whim of the Chancellor. "The Bill will contain provisions...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read