Office for Budget Responsibility (OBR)

The Office for Budget Responsibility (OBR) is the UK's independent fiscal watchdog, responsible for providing forecasts and analysis of the UK's public finances. It assesses the government's economic and fiscal plans, playing a crucial role in informing public and parliamentary debate. The OBR is newsworthy due to recent events surrounding the release of Rachel Reeves's budget. An inquiry was launched after the OBR inadvertently published the budget details 40 minutes early. This resulted in the resignation of the OBR's chair, Richard Hughes. The incident has raised concerns about budget security and the integrity of the process. The OBR's role remains significant as its forecasts and analyses are vital for evaluating the government's economic policies and their potential impact.