Hunt claims Budget watchdog will 'break impartiality' to aid case for Labour tax rises

Published On Oct 27, 2024, 9:39 PM

There is controversy between the UK's financial watchdog, the Office for Budget Responsibility (OBR), and former Chancellor Jeremy Hunt regarding a report on public finances due to be released on the same day as the anticipated budget announcement by Labour's Chancellor, Rachel Reeves. Hunt criticizes the report for potentially politicizing the budget and contends that it may unfairly influence perceptions of tax increases in relation to a claimed £22bn shortfall in government finances. The OBR defends its publication schedule as an examination of its relationship with the Treasury rather than a critique of ministers' decisions. This situation indicates potential volatility in political and economic sentiments as Labour prepares its first budget in 15 years, which may involve significant tax increases and infrastructure spending plans.