View more on these topics

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.

Recommended

1

Friends Prov enhances CI cover

Friends Provident has enhanced its critical illness cover with the addition of mastectomy cover and five ABI+ conditions. The five ABI+ conditions are for heart attack, benign brain tumour, coronary artery by-pass grafts, heart valve replacement or repair, and coma. These improvements have also been extended to Friends’ children’s critical illness product. Friends will also […]

Polson leaves Standard Life

Standard Life head of trading Mark Polson has left the company. Polson joined Standard in 2007 to develop the platform business. His departure comes less than a week after Standard announced it was cutting up to 500 jobs in the next 15 months.

Jupiter jumps into FTSE 250 as market cap soars to £1bn

Jupiter is being promoted to the FTSE 250 index of mid-sized equities as part of the index’s latest rebalancing. The company floated on the London Stock Exchange in June this year at 165p a share and was trading 37 per cent higher last week at 226p. The price level means the firm, which has 400 […]

N&P facing 250 Keydata compensation claims

Norwich & Peterborough Building Society is to receive 250 compensation claims by lawyers acting for investors whose savings were placed in Keydata products on the group’s advice. Law firm Regulatory Legal says it will also this evening send documents to the FSA alleging that N&P recommended Keydata products to inappropriate clients. The documents will also […]

Auto enrolment – so far so good?

Jamie Clark – Business Development Manager The recent report from the Pensions Policy Institute demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report. Auto enrolment in numbers Sources: Pensions Policy Institute, The Future Book: Unravelling […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com