OBR chair quits over Budget leak

THE chairman of the Office for Budget Responsibility (OBR) has resigned over the early publication of the watchdog’s forecasts.

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Richard Hughes said he was resigning to allow the OBR to “quickly move on from this regrettable incident”.

His resignation follows publication of a report that described the leak as “the worst failure in the 15-year history of the OBR” and strongly criticised the watchdog’s processes for protecting sensitive information.

In a letter to the Chancellor and the chairwoman of the Commons Treasury Committee, Mr Hughes said he took “full responsibility” for “the shortcomings identified in the report”.

He said: “By implementing the recommendations in this report, I am certain the OBR can quickly regain and restore the confidence and esteem that it has earned through 15 years of rigorous, independent economic analysis”.