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      Miliband would be ‘disaster’ as Chancellor, says Labour cost of living chief 

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Richard Hughes

  • The next Prime Minister can change the conversation on the fiscal rules

    Opinion

    Since the defenestration of Liz Truss, the OBR has become an obsession in British politics. It need not be this way. Independent fiscal institutions are supposed to inform politics, not rule it. Other countries use them as sources of transparency, not as judge, jury and executioner, says Helen Thomas The next Prime Minister and Chancellor [...]

    Treasury Department building with government bonds signage, representing financial management and bond issuance responsibi...
  • ‘No authority’: Starmer under pressure to quit after Burnham wins in Makerfield

    Politics

    Sir Keir Starmer is facing fresh calls to quit from his own cabinet and a Labour peer after Andy Burnham’s triumph at the Makerfield by-election. Lord Falconer, a former justice secretary under Tony Blair, became the latest Labour figure to call for the Prime Minister to step down, saying he has “absolutely no authority”. Burnham’s [...]

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  • Made to be broken? Reeves urged to keep fiscal rules 

    Economics

    Chancellor Rachel Reeves has been urged to keep her fiscal rules amid growing calls for tweaks to be made to factor in long-term investments and demands for higher defence spending.  Richard Hughes, the most recent chair of the Office for Budget Responsibility (OBR), called on Reeves to see out her fiscal rules through parliament. Appearing [...]

    Rachel Reeves will look to offer entrepreneurs tax breaks in her battle to keep her headroom intact.
  • Former OBR chair takes aim at Rachel Reeves’ fiscal rules 

    January 13, 2026

    The former chair of the Office for Budget Responsibility has taken aim at Chancellor Rachel Reeves’ fiscal rules, suggesting they prevent UK public finances from building enough “resilience”.  In his first public appearance since his resignation last month due to the leaked Budget, Richard Hughes said the current fiscal rules were “among the loosest” the [...]

  • Leak and Let Die: OBR calls in former spook to investigate early Budget release

    November 27, 2025

    The embattled Office for Budget Responsibility (OBR) has brought in a former top spook to investigate how its entire forecast was published early before Rachel Reeves stood up to deliver the Budget.  Alongside the watchdog’s oversight board, Ciaran Martin, former chief of the National Cyber Security Centre – part of the security services – will [...]

  • Something fiscal this way comes: Reeves haunted by ghosts of Truss and the OBR

    July 10, 2025

    Haunted by the legacy of Truss and bound by the warnings of the OBR, Chancellor Rachel Reeves now faces a political and fiscal tragedy of her own, as internal rebellion and economic risks threaten her grip on stability, says Helen Thomas OBR, OBR, wherefore art thou OBR? The three letter acronym that oversees government finances [...]

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