Chancellor Rachel Reeves has nominated Jonathan Haskel, a former Bank of England rate-setter, as the next chairman of the Office for Budget Responsibility (OBR). Haskel served on the Bank's Monetary Policy Committee from 2018 to 2024 and is currently a Professor of Economics at Imperial College London, focusing on productivity and growth.
Background of the Appointment
The nomination follows the resignation of former chairman Richard Hughes last December after the OBR inadvertently released its analysis of the autumn budget early, revealing key details of Reeves' statement before she delivered it. Hughes apologized for the error.
The Treasury stated that Haskel is expected to take up his post in time to oversee the OBR's next forecast alongside the upcoming budget later this year. This budget will occur under a new prime minister and chancellor, as Sir Keir Starmer announced plans to step down, paving the way for Andy Burnham to become prime minister.
Interim Leadership and Reactions
In the interim, Budget Responsibility Committee members David Miles and Tom Josephs will continue to lead the OBR until Haskel is formally appointed.
Reeves commented: "Jonathan Haskel is an outstanding nominee for chair. His depth of expertise in economics and his track record of independent, rigorous analysis make him exactly the right person to lead the OBR – supporting the credibility of our fiscal framework and ensuring our economy is underpinned by sound public finances."
Haskel said: "I am honoured to be nominated as the next chair of the OBR. The OBR plays an indispensable role in maintaining the transparency and integrity of the UK’s public finances, and I am committed to upholding that."
