The head of the UK's new fiscal watchdog will step down in the summer when his three-month contract expires, a spokesman for the Treasury said last night.
Former Treasury economist and ex-Bank of England policymaker Sir Alan Budd was appointed interim head of the independent Office of Budget Responsibility (OBR) on its creation in May, Reuters reports. However, many had expected him to stay in the role until the government spending review on 22 October. "It was always Sir Alan's intention to leave in the summer," a Treasury spokesman said. "He was appointed to provide forecasts for the June Budget and advice on the creation of the permanent OBR." Read more...
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