Sir Alan Budd to quit as head of spending watchdog

The chairman of the Office for Budget Responsibility will step down after just three months in the job.

By New Statesman Published 06 July 2010

Sir Alan Budd, chairman of the Office for Budget Responsibility, the government's new spending watchdog, will step down in the summer after just three months in the job. The surprise move will leave the OBR without a chairman before it has been formally established in British law.

Sir Alan was on a three-month contract but most in the Treasury had expected him to remain in place until the OBR became a permanent institution. A leading economist and a founding member of the Bank of England's Monetary Policy Committee in 1997, Budd is now expected to return to the private sector.

The OBR was founded by the Chancellor, George Osborne, to provide independent economic forecasts and to judge whether the government is cutting the Budget deficit quickly enough.

The Treasury has no obvious replacement for Sir Alan, which could leave it without a chairman in the run-up to this autumn's Comprehensive Spending Review. "The government will seek to ensure continuity for the OBR in recruiting Sir Alan's successor," said a Treasury spokesman.

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Tags: Politics News

5 comments

Fri, 2010-07-09 02:34 — roc (not verified)

Watching Sir Alan Budd sitting and watching George Osborne on the day he (Osborne) made the announcement of his appointment as the head of the OBR, I could only extend my pity and sympathy towards him, because I foresaw right there his resignation happening sooner than he would wish. I also wondered why he lacked the wisdom to read between the lines, and why he would want to tarnish whatever name, image and credibilty he may have acquired over the years at this later stage of his life and career. I'm glad he's finally seen reason to take the right decisions before it is too late.

Wed, 2010-07-07 19:11 — Derek Smith (not verified)

Sir Alan Budd clearly doesn't want to be used as a ConDem stooge. He knows the cuts are going way too far and doesn't want the blame from voters which is what would happen when Osborne says "it wasn't me!"

Tue, 2010-07-06 10:17 — allan sayers (not verified)

duhhhhh george

Tue, 2010-07-06 12:06 — Abby (not verified)

Wise move.
With the way the ConDem govt is using the OBRs predictions to justify their absurd claims - 2.5 million job creation in 5 years - and all the proposed cuts, and then counter claims, the OBR are looking to be discredited big time!