Robert Chote appointed OBR chief
IFS director Robert Chote is set to become the new head of the government’s tax and spending watchdog in a “brave move” for the chancellor, writes Economics Editor Faisal Islam.
Mr Chote, currently director of influential think-tank the Institute for Fiscal Studies, has been selected to succeed Sir Alan Budd at the Office for Budget Responsibility (OBR).
The appointment, revealed by Chancellor George Osborne, is subject to approval by MPs.
Mr Osborne said Mr Chote’s “experience and suitability” for the role is “beyond doubt”.
“As Director of the Institute for Fiscal Studies, he has been one of the most credible independent voices on the public finances, taxation and public spending,” the Chancellor said.
“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.”
Economics Editor Faisal Islam writes:
“This is a brave decision from the chancellor. Mr Chote has established a fiery independent reputation throughout his career and particularly at the IFS.
“Even in the last fortnight he challenged one of the central foundations of the coalition saying that the austerity budget was “progressive”. With the devastating analysis he will have to navigate the novel formality of a Treasury Select Committee confirmation hearing.
“But then the real challenge starts.
“The OBR got off to quite a shaky start. At the helm the chancellor has shown that he is serious about having his own feet to the fire.
“Intriguingly, following Will Hutton, Martin Wolf and Martin Weale, the chancellor appears to be scooping up most of Britain’s economic establishment into the coalition.”
Mr Chote said today he was “delighted” by the announcement and looked forward to his pre-appointment hearing with the select committee, which has a veto over who gets the job.
He said if he was confirmed the watchdog would present judgments “without fear or favour”.
“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,” he added.