STORY
Richard Hughes, the chair of the UK’s fiscal watchdog, has resigned following a significant failure that saw the contents of the Government’s annual Budget published nearly an hour ahead of schedule. Hughes, who had led the Office for Budget Responsibility since 2020, stepped down after an internal inquiry concluded the leak amounted to the most serious breakdown in the organisation’s 15-year history.
According to the inquiry, the early release was caused by a misconfigured website link that made confidential Budget documents publicly accessible before the Chancellor delivered the statement in Parliament. The materials, which included market-sensitive forecasts, had been expected to remain under strict embargo until the official announcement. The error raised concerns about the robustness of the OBR’s internal systems and its ability to safeguard information.
Hughes said in his resignation letter that he accepted full responsibility and believed his departure was necessary to help restore confidence in the watchdog’s independence and professionalism.
Rachel Reeves, the Chancellor of the Exchequer, said in a statement:
“I want to thank Richard Hughes for his public service and for leading the Office for Budget Responsibility over the past five years and for his many years of public service. This government is committed to protecting the independence of the OBR and the integrity of our fiscal framework and institutions.”