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Osborne offers TSC power to veto OBR appointments

Chancellor George Osborne has offered the Treasury select committee the power to veto whoever he appoints as the head of the Office for Budget Responsibility.

Giving evidence to the Treasury select committee this morning, Osborne said the Government will advertise the position tomorrow, to replace Sir Alan Budd, and hopes to have all applications by mid-August.

Osborne said this would be the first time MPs have been given such powers in a move he hopes will emphasise the independence of the OBR.

TSC chairman Andrew Tyrie said he would consider the offer with other members of the committee but expects it will be received favourably. Tyrie asked whether Osborne would consider extending the offer to allow the TSC to sack the OBR head through a vote of no confidence. Osborne said he would consider this but suggested it may undermine the OBR’s independence.

Osborne also announced that the OBR would be moved out of the Treasury.

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