OBR: Resignation of Chair

Joshua Reynolds Excerpts

Wednesday 3rd December 2025 Commons Chamber

[James Murray]

My hon. Friend is absolutely right that people across Britain are still living with the consequences of what the previous Government did in that mini-Budget, when they sidelined the OBR. In fact, one of the reasons we are so keen to protect and strengthen the OBR’s integrity is the vital role it plays in our fiscal framework. The very first Bill passed by this Government included the fiscal lock, which now prevents the OBR from being sidelined.

[Mr Joshua Reynolds (Maidenhead) (LD)]

The Chancellor announced in the Budget that she would legislate for only one assessment of the fiscal rules every year, instead of two, which is the case at the moment. In the light of the change in the OBR’s leadership, will the Minister commit today to seeking the views of the incoming chair of the OBR about the economic and fiscal impact of that decision before the Government plough ahead with it?

[James Murray]

I want to be clear about what the OBR is required to do and what the Chancellor announced last week in the Budget. The OBR is required to produce two forecasts a year, and the Chancellor will commission a second forecast in due course. As she announced in the Budget, however, that forecast will not include an assessment of the Government’s performance against the fiscal rules, and the Government will not respond with fiscal policy.