Chancellor selects economist to lead UK budget office

The Chancellor has selected a former central bank rate-setter to chair the Office for Budget Responsibility. The nominee previously served on the bank's monetary policy committee from 2018 to 2024 and currently holds a professorship in economics at Imperial College London.

The appointment follows the December resignation of the prior chairman, who stepped down after the office inadvertently released budget analysis early. That release disclosed details of the autumn statement before the Chancellor delivered it.

the Budget Responsibility

Committee will lead the office until the new chairman is formally appointed. The Treasury stated the nominee is expected to assume the role in time to oversee the next forecast, which will accompany the next budget later this year.

Political transition The next budget is expected to occur under a new prime minister and chancellor. The current prime minister announced plans to step down earlier this week. The Chancellor described the nominee as an outstanding candidate whose expertise supports the credibility of the fiscal framework.

The nominee said the appointment is an honor and pledged to uphold the office's role in maintaining transparency of public finances.