Richard Hughes

Richard Hughes was the chair of the Office for Budget Responsibility (OBR), an independent body that provides economic forecasts and analysis of the UK's public finances. He has recently resigned from his position following an inquiry into the early release of Rachel Reeves's budget. The OBR inadvertently uploaded its budget documents approximately 40 minutes before the official announcement. Hughes apologized to the Chancellor and the chair of the Treasury Select Committee for the error. This incident led to an urgent inquiry by the watchdog to determine how the early release occurred. His resignation is significant because it highlights the importance of budget security and the accountability expected of high-ranking officials in economic institutions. The Treasury is also conducting its own inquiry into budget leaks, emphasizing the seriousness of the situation.