Britain moves to fill a leadership gap at its fiscal watchdog as it names former Bank of England rate-setter Jonathan Haskel as its preferred candidate for the top role. The nomination comes as the Office for Budget Responsibility has been without a chair since December and ahead of the next annual budget.
Highlights
- UK finance ministry nominates Jonathan Haskel to chair the Office for Budget Responsibility, pending Treasury Select Committee approval before the next annual budget.
- Economist Jonathan Haskel, ex-Bank of England MPC member from 2018 to 2024, brings extensive experience and independence to his nominated OBR leadership role.
- Office for Budget Responsibility remains chairless after Richard Hughes' December resignation, with interim leadership by David Miles and Tom Josephs until Haskel's confirmation.
Nomination process before next budget
As reported by Reuters, the finance ministry says Haskel is expected to take up the post in good time before the next annual budget, subject to approval by parliament's Treasury Select Committee.Haskel served on the Bank of England's Monetary Policy Committee from 2018 to 2024 and is an economics professor at Imperial College London. Finance minister Rachel Reeves says his experience in economics and record of independent analysis make him the right person to lead the OBR.
In a statement, Haskel says the OBR plays an indispensable role in maintaining the transparency and integrity of the UK's public finances and that he is committed to upholding that mission.
OBR oversight and interim leadership
The Office for Budget Responsibility publishes Britain's economic and fiscal forecasts based on the government's budget and remains without a chair after Richard Hughes resigned in December.Hughes stepped down after the OBR mistakenly published its Economic and Fiscal Outlook on its website early, including the details of Reeves' 2025 budget. Budget Responsibility Committee members Professor David Miles and Tom Josephs continue to lead the OBR until Haskel's confirmation, the finance ministry says.
Our earlier coverage focused on the UK’s widening pressure on public finances as the tax gap hit £59.2 billion in 2024/25, with small businesses making up the largest share of missing receipts. We also highlighted how the large budget deficit and limited fiscal headroom sharpen attention on compliance, revenue collection, and official forecasts—alongside OBR estimates on fraud and error in the welfare system.
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