(Bloomberg) -- One of the three key officials in charge of the UK government’s budget watchdog is to step down for a role in the private sector before the Chancellor’s autumn statement due later this year.
Andy King, a former Treasury official who works on the cost of government policies at the Office for Budget Responsibility, is joining the strategy consultancy Flint Global as a specialist partner after his five-year term ends in August, the OBR said Monday in a statement.
The Treasury said it would launch a recruitment process for his successor “shortly.”
King is one of three members of the Budget Responsibility Committee who run the OBR. Richard Hughes is chair, David Miles prepares the macroeconomic forecasts, and King analyses the impact of policies on the public sector finances.
The OBR found itself at the center of a political storm last year when then-Prime Minister Liz Truss launched a tax cutting plan without requesting a forecast and audit from her budget watchdog.
The decision to ignore the OBR was blamed in part for causing a market backlash that triggered brief financial crisis — and Truss’s resignation.
Truss’s supporters say the OBR had hamstrung UK growth by focusing too much on prudent management of the public finances at the expense of growth.
To view the source of this information, click here
©2023 Bloomberg L.P.
BNN Bloomberg Picks
Artists are worried about AI. Here is why
What is it like to live in a converted office building?
Carbon tax, trade barriers: experts on how to reduce food costs
Variable rate mortgage holders on the hook for thousands in interest: report
Half of Canadians don't think they will be ever buy a home: survey
How can mortgage holders prepare for higher rates at renewal?