𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

The Chancellor has selected former Bank of England rate-setter Jonathan Haskel to take over as chairman of the Government’s official forecaster.

Mr Haskel, who sat on the Bank’s Monetary Policy Committee between 2018 and 2024, is the preferred candidate to take the top role at the Office for Budget Responsibility.

He is set to take the position after former chairman Richard Hughes resigned last December over the mistaken early publication of its forecasts.

Mr Hughes apologised after the OBR had inadvertently released its analysis of the budget early, revealing key details of Rachel Reeves’ autumn statement before she had delivered it.

The proposed chairman is currently a Professor of Economics at Imperial College London, with his research focusing on productivity and growth.

The Treasury has said it is “anticipated he could take up his post in good time” to help oversee the OBR’s next forecast alongside the next budget later this year.

It is expected to take place under a new prime minister and chancellor, after Sir Keir Starmer announced his plan to step down earlier this week, paving the way for Andy Burnham to become prime minister.

Budget Responsibility Committee members David Miles and Tom Josephs will continue to lead the OBR in the interim before Mr Haskel is formally appointed.

Ms Reeves said: “Jonathan Haskel is an outstanding nominee for chair.

“His depth of expertise in economics and his track record of independent, rigorous analysis make him exactly the right person to lead the OBR – supporting the credibility of our fiscal framework and ensuring our economy is underpinned by sound public finances.”

Mr Haskel said: “I am honoured to be nominated as the next chair of the OBR.

“The OBR plays an indispensable role in maintaining the transparency and integrity of the UK’s public finances, and I am committed to upholding that.”