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Osborne makes Chote choice to oversee budget responsibility

Institute for Fiscal Studies director Robert Chote has been announced as Chancellor George Osborne’s preferred candidate to chair the Office for Budget Responsibility.

The appointment, tipped in last week’s Money Marketing, is subject to a pre-appointment hearing before the Treasury select committee.

Chote has been director of the IFS since 2002. He was previously adviser to the senior management of the International Monetary Fund in Washington and economics editor of the Financial Times.

Chancellor George Osborne says: “Robert Chote’s experience and suitability to become the first chair of the permanent OBR is beyond doubt.
“As director of the IFS, he has been one of the most credible independent voices on public finances, taxation and public spending.

“I hope that the Treasury select committee will approve this appointment so that he can lead the OBR in its important work over the next five years.”

Chote says: “I am delighted to have been nominated by the Chancellor as the next chairman of the OBR and look forward to meeting with the Treasury select committee.

“The creation of the OBR is a great opportunity to ensure that the tax and spending decisions of this and future governments are informed by demonstrably rigorous and independent analysis of the outlook for the public finances and the economy.”

Treasury select committee chairman Andrew Tyrie adds: “I have no doubt members of the Treasury committee will wish to hold a pre-appointment hearing with Robert Chote very shortly.”

The OBR was set up on an interim basis in May to independently assess the state of public finances and the economy ahead of the June Budget. Legislation to make the OBR permanent is expected in the autumn.



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