HM Treasury has today launched a recruitment campaign for a new Chair of the Office for Budget Responsibility (OBR).
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 core functions of the OBR, including the judgements made in its economic and fiscal forecasts.
As with all appointments to the Budget Responsibility Committee, the Chancellor will make the appointment, subject to the consent of the Treasury Committee.
Further information
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As set out in the Budget Responsibility and National Audit Act 2011, appointments to the OBR’s BRC, including the Chair, requires the consent of the Treasury Committee. The candidate nominated by the Chancellor will therefore be subject to a pre-appointment hearing with the Treasury Committee.
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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 and each member may serve a maximum of two terms.
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While the Chair’s post is currently vacant, the two current members of the BRC, Professor David Miles and Tom Josephs, will continue to lead the OBR.
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. They are supported in their work by the OBR’s permanent staff led by the OBR Chief of Staff. The current members of the BRC are:?
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Chair (vacant)
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Professor David Miles
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Tom Josephs
About the recruitment process
HM Treasury will run an open and competitive recruitment campaign to find a new Chair. The successful candidate will be selected by the Chancellor of the Exchequer in line with the requirements set out in the Budget Responsibility and National Audit Act 2011 and in accordance with the principles of the Governance Code for Public Appointments. The appointment will then be finalised subject to the Treasury Committee’s consent.
