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Investing.com -- Richard Hughes has resigned as chair of the Office for Budget Responsibility after the UK’s fiscal watchdog mistakenly published Chancellor Rachel Reeves’ budget almost an hour before its scheduled delivery in Parliament.
The resignation, announced Monday, followed an oversight board investigation that described the incident as the most serious failure in the OBR’s 15-year history. The investigation also revealed that similar systemic weaknesses had allowed early access to the Spring Statement in March.
Hughes, who had served as chair since 2020, stated he was stepping down to allow the OBR "to quickly move on from this regrettable incident."
In his resignation letter to Reeves and the House of Commons Treasury select committee, Hughes wrote: "I have, therefore, decided it is in the best interest of the OBR for me to resign as its Chair and take full responsibility to the shortcomings identified in the report."
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