Richard Hughes, the chairman of the Office for Budget Responsibility (OBR), has resigned following a significant blunder that saw the organisation's Budget forecasts published prematurely. This incident occurred just minutes before Chancellor Rachel Reeves was set to deliver her Budget speech on 26 November. In his resignation letter addressed to the Chancellor and Dame Meg Hillier, chairwoman of the Treasury Select Committee, Hughes stated, "The inadvertent early dissemination of our Economic and Fiscal Outlook was a technical but serious error." He expressed his desire to allow the OBR to move on from this regrettable incident, taking full responsibility for the shortcomings identified in a report that labelled the leak as "the worst failure in the 15-year history of the OBR." Hughes, who has led the OBR since 2020, emphasised the need for the organisation to regain public confidence. He stated, "By implementing the recommendations in this report, I am certain the OBR can quickly regain and restore the confidence and esteem that it has earned through 15 years of rigorous, independent economic analysis." The leak has drawn criticism from various political figures. Conservative leader Kemi Badenoch accused Chancellor Reeves of using Hughes as a "human shield" to deflect blame. She remarked, "Someone has resigned as a result of the budget chaos... but it isn’t Rachel Reeves." Labour MP Andrew Pakes welcomed Hughes' resignation, stating, "The leak of the OBR report makes deeply worrying reading. Leadership matters on these issues." He highlighted concerns that the leak could lead to speculation and significant financial implications. Treasury minister James Murray thanked Hughes for his dedication to public service, while Chancellor Reeves also expressed gratitude for his years of service. The OBR has initiated an investigation into the leak, which was attributed to two technical errors related to its WordPress publishing site. The report noted that while the OBR had assumed adequate protections were in place, the premature access was due to configuration errors. It also revealed that a similar incident had occurred with the last spring statement, although it did not result in any significant consequences. To prevent future occurrences, the report recommended a comprehensive review of the OBR's publication processes. Options include utilising the Government’s digital architecture for publishing or having the Treasury publish the forecasts, provided safeguards for independence are established. The OBR aims to implement new arrangements before the next statement in spring 2026.
OBR Chief Resigns After Budget Leak Scandal
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