Javid seeks new boss for UK’s economic forecaster
Sajid Javid has kicked off the hunt to replace long-standing Office for Budget Responsibility chairman Robert Chote when his term at the fiscal watchdog comes to an end in October.
Mr Chote has headed up the independent economic forecaster since it was launched in 2010, having served the maximum two five-year terms.
The Chancellor said Mr Chote has led the Office for Budget Responsibility (OBR) with “intelligence, independence and integrity”.
He added: “Finding the right candidate to lead the OBR and build on the significant progress of the last 10 years is vital for maintaining the credibility of the UK’s fiscal framework and our status as a world leader in fiscal transparency.
“I look forward to working with Robert Chote to deliver my Budget on March 11 before he finishes his second term as chair.”
The Treasury said the recruitment process will look at the “broadest possible pool of applicants” and is open to applications until February 20. It is set to make an appointment in the early spring.
The role — which is supported by a 37-strong team at the OBR — comes with a £158,762 annual salary and can be taken on a fulltime or part-time basis.
According to the job advert, candidates “must command broad respect for their objectiviCHANCELLOR ty in dealing with issues of political sensitivity”. But the relationship between the OBR and the Treasury has not always been smooth, with the watchdog earlier this year ordered to cancel its updated outlook on the public finances.
The Government’s move to scraptheBudgetonNovember6 ahead of the snap General ElectionmeanttheOBRwasnotable to provide a full economic and fiscal outlook.
It had planned instead to publish an updated view of public finances due to major changes since March to the way student loans and pension schemes are accounted for in the figures.
But it was forced to scrap these plans as the Government deemed it would break election rules, prompting accusations of political interference. The move has also put the OBR at risk of breaking its legal commitment to publish two forecasts each financial year, given that it is yet to produce even one so far in 201920. With the next forecasts due alongside the Budget on March 11, it has little time either side to produce a second set.