Office for Budget Responsibility Forecasts

Callum Anderson Excerpts

Monday 1st December 2025 Commons Chamber

[James Murray]

I do not know whether the right hon. Lady missed my explanation of where the Chancellor was, but I am pleased to announce to the House that the Chancellor is in Wales today, at the Wales investment summit. She is there following yesterday’s announcement of £1.4 billion of extra investment into Wales, and that is just the latest tranche of the £16 billion of new investment announced since the summit was launched.

[Callum Anderson (Buckingham and Bletchley) (Lab)]

I thank the Chief Secretary to the Treasury for his statement. The integrity of fiscal forecasting depends not only on technical expertise, but on the public’s confidence in the people who deliver it. Clearly, that confidence has been shaken in the past few days. Can he outline what governance changes he and the Department are thinking about enacting so that those overseeing the fiscal process meet the highest standards of conduct and scrutiny? Does he have confidence in the head of the OBR delivering them?

[James Murray]

I emphasise to my hon. Friend and all Members of this House that the Chancellor and all of us in the Treasury value the independence of the OBR and the constructive relationship we have had with it over the past 16 months, in challenging times. Obviously, the matter that we are discussing today—the early publication of the report last Wednesday—is incredibly serious. The reason we as a Government are taking it so seriously is that we want to preserve the integrity and independence of the OBR in the future.