Richard Hughes nominated for reappointment as Chair of the Office for Budget Responsibility

The Chancellor today (30 May) has nominated Richard Hughes for reappointment as Chair of the Office for Budget Responsibility (OBR).

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.

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.

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: