OBR Chair Resigns Following Investigation into Premature Budget Publication
Richard Hughes, has resigned in the wake of the results of an swift investigation regarding how the fiscal watchdog accidentally released Chancellor the government's budget 40 minutes early.
Apology and Investigation
Last week, Hughes formally apologized to Rachel Reeves and to Meg Hillier after the OBR published its reports outlining the budget before the chancellor's address commenced last week.
To conduct a rapid probe, Hughes enlisted Ciaran Martin, with oversight provided by the independent members of the OBR’s oversight board.
“I need to play my part in enabling the organisation that I have loved leading for the past five years to quickly move on from this regrettable incident.”
A Decision to Step Down
Hughes's departure followed public statements from Rachel Reeves expressing confidence in his leadership.
However, in a later communication addressed to both Reeves and Hillier, Hughes wrote: “I have, therefore, decided it is in the best interest of the OBR for me to resign as its Chair and take full responsibility for the shortcomings identified in the report.”
This decision underscores the gravity with which the watchdog is treating the security lapse that resulted in the early release of confidential fiscal documents.
Further updates will follow in due course.
