The Chancellor today (30 May) has nominated Richard Hughes as
Chair of the OBR for a second and final 5-year term of
office.
The OBR is the UK's official independent economic and fiscal
forecaster, responsible for examining and reporting on the
sustainability of the public finances. The Budget Responsibility
Committee (BRC), led by the Chair, has executive responsibility
for the OBR and is responsible for judgements made in preparation
of the OBR's economic and fiscal forecasts.
Fiscal stability is at the heart of this government's most
important mission to grow the economy. This is why the first bill
it passed included the fiscal lock, so that no administration can
sideline the OBR.
The Treasury Committee approves all appointments to the BRC.
Richard will appear before the committee for a pre-appointment
hearing in due course.
Further information
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Richard Hughes has been the Chair of the OBR since 2020. He
is the second permanent Chair.
-
As set out in the Budget Responsibility and National Audit
Act 2011, appointments to the OBR's BRC require consent from
the Treasury Committee.
-
The Budget Responsibility and National Audit Act 2011 allows
each term of a BRC member, including the Chair's, to be up to
5 years in length and each member may serve a maximum of two
terms.
About the OBR
The OBR was created in 2010 to provide independent analysis of
the UK's public finances. The OBR is led by the three members of
the BRC who have executive responsibility for carrying out the
core functions of the OBR, including any judgements made in the
preparation of the economic and fiscal forecasts. The current
members of the BRC are:
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Richard Hughes (Chair)
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Professor David Miles
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Tom Josephs
About the reappointment process 
Reappointments are not automatic, and each case is considered on
its own merits. The decision to nominate Richard Hughes for
reappointment was made by the Chancellor of the Exchequer, in
line with the requirements of the Governance Code for Public
Appointments. Richard's reappointment will be finalised subject
to the Treasury Committee's consent.
