Thursday, 9 September 2010

Office of Budget Responsibility Gets New Chief

The BBC have reported that George Osborne has appointed Robert Chote, former head of the IFS, as the new chief of the Office of Budget Responsibility.

I can't really complain about this appointment - although the IFS has touted itself as an 'independent' organisation, I have found its analyses to be decidedly left-leaning, especially with its recent criticism of the Emergency Budget as being 'regressive', whatever that means. If 'progressive' means 'socialist', as it seems to be used, then personally I'm quite happy for the Government's policies to be 'regressive'.

Osborne is the first Chancellor to submit to official independent scrutiny

Osborne's decision to appoint the former head of an, at best independent, at worst left-leaning, to scrutinise his own fiscal policy decisions certainly backs his statements about the OBR being there to independently review the work of the Treasury, rather than simply rubber-stamp it. This truly does end the Treasury's centuries-old vested interest in its ability to massage the figures for political ends.

All in all, a brave move.