Office for Budget Responsibility Forecasts

Simon Hoare Excerpts

Monday 1st December 2025 Commons Chamber

[James Murray]

My hon. Friend asks what the OBR report was able to conclude. It said that

“We could not, in the time available, carry out deeper forensic examination of other recent EFO events and we recommend that such an exercise is, with expert support, now urgently carried out.”

That is exactly what the Government will be doing.

[Simon Hoare (North Dorset) (Con)]

I think it should be recognised that events such as these allow Ministers and the wider Government to reflect on current circumstances. I am not seeking to scapegoat the OBR, but it is not the messiah—sometimes, it can be a very naughty boy—and it does have to revise its predictions at all times. Is it too traditional to suggest to this Government that the Treasury should be the office of budget responsibility, and that there are good brains in the Bank that could be tapped into? Is now not a good opportunity to reflect on what advice the Government need, whether the OBR is fit for purpose, and whether it should be disbanded?

[James Murray]

I have a great deal of personal respect for the hon. Gentleman, but I take a different view of the OBR. We value the role of the OBR in a robust and transparent fiscal framework, and it is precisely because we value that role that we take last week’s breach of information so seriously.