Haskel to lead fiscal watchdog.
Britain nominates former Bank of England economist Jonathan Haskel to chair independent fiscal watchdog OBR.
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Key Points
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Jonathan Haskel has held notable public-sector governance roles beyond his BoE service, including as a Non-Executive Director of the UK Statistics Authority (2016–2022) and as an External Member of the CMA’s Reporting Panel (2001–2009).
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His appointment is expected to proceed via a Treasury Committee pre-appointment hearing, with the post anticipated to be taken up in good time ahead of the next budget, subject to parliamentary approval.
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To ensure continuity, interim leaders Professor David Miles and Tom Josephs will continue to run the OBR until Haskel’s confirmation.
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The chair vacancy arose after Richard Hughes resigned in December following an early publication leak of Reeves’ 2025 budget details on the OBR’s website.
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Haskel’s academic focus includes productivity and growth, and he is a professor of economics at Imperial College London.
Chancellor Rachel Reeves has nominated Jonathan Haskel, a former Bank of England rate-setter and Imperial College London professor, to chair the Office for Budget Responsibility, according to GOV.UK. The appointment fills a vacancy that has sat open since December, when previous chair Richard Hughes resigned after the OBR accidentally published the full 2025 Budget analysis online — 40 minutes before Reeves delivered her speech to Parliament.
Reeves called Haskel "an outstanding nominee" whose "track record of independent, rigorous analysis" makes him "exactly the right person to lead the OBR." The appointment still requires approval from the Treasury Select Committee before it is confirmed.
A Budget Leak That Ended a Career and Left a Vacancy
The OBR chair position became vacant under dramatic circumstances. In October 2025, a live web link accidentally made the full Budget — including sensitive growth forecasts and details of tax rises — publicly visible before Reeves had spoken a word, according to The Guardian. An internal inquiry later called it the "worst failure" in the OBR's 15-year history.
Hughes appeared before the Treasury Select Committee on November 26, describing himself as "mortified." He resigned on December 1, taking "full responsibility." Since then, Professor David Miles and Tom Josephs have jointly led the office on an interim basis. They will continue to run the OBR until Haskel's confirmation, Mirage News reported.
Who Is Haskel and Why Did Reeves Pick Him?
Haskel sat on the Bank of England's Monetary Policy Committee from 2018 to 2024 — the group that sets UK interest rates. He also served as a Non-Executive Director of the UK Statistics Authority from 2016 to 2022. Analysts say his central-banking background gives the OBR a "credibility booster" after the scandal, according to Global Banking & Finance Review.
His academic work focuses on productivity and growth — two areas the UK government is desperate to improve. Haskel himself said he is "honoured to be nominated" and called the OBR's role "indispensable" to the transparency of public finances, according to Mirage News. His selection marks a shift back toward academic and central-bank expertise, away from the Treasury-insider profile of Richard Hughes.
Parliamentary Hurdle and the Brexit Controversy Ahead
Under the Budget Responsibility and National Audit Act 2011, the Chancellor can only appoint an OBR chair with the consent of the Treasury Select Committee. A pre-appointment hearing is expected, and Treasury aides say the role should be filled in good time before the next Budget, according to The Independent.
The hearing is unlikely to be smooth sailing. In 2023, Haskel calculated a £29 billion "productivity penalty" caused by Brexit. Outlet Guido Fawkes has flagged this, suggesting some MPs may view his appointment through a partisan lens. The Treasury Committee is also expected to press Haskel on whether he can maintain the OBR's independence under an incoming Burnham administration, according to City AM.
Restoring Trust — and Fixing the Security Breach
Haskel's first major task will not be economics — it will be a full overhaul of the OBR's digital security. Following the 2025 leak, he is expected to put new "market-sensitive information" protocols in place to stop a repeat of the error that ended Hughes' career, according to The Sun.
The appointment also carries wider political weight. Financial Times reported that by locking in a respected, independent figure now, Reeves is trying to secure institutional stability before a potential change of leadership at the top of government. Outgoing Prime Minister Keir Starmer announced his intention to step down on June 21, with Andy Burnham expected to succeed him. Reeves' aides told the FT that Burnham was not consulted on this specific appointment.
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