Boss set to leave new British fiscal watchdog

6th July 2010, Comments 0 comments

The head of the British government's newly-created fiscal watchdog will step down later this month as expected, the Treasury announced on Tuesday.

Alan Budd, 73, who is chairman of the independent Office for Budget Responsibility (OBR), will depart when his three-month contract expires, a spokesman confirmed.

The Treasury spokesman said it has "always been the case that Sir Alan planned to leave in the summer," adding that the search has not yet started to find his replacement.

"He was appointed to provide forecasts for the emergency budget and to advise on the establishment of a permanent OBR," the spokesman added.

The OBR, created by Prime Minister David Cameron's coalition government after a general election in May, provides independent forecasts for economic growth and public finances.

The government last month delivered a deficit-slashing emergency budget which contained a package of higher taxation and spending cuts amid intense concern about soaring state debt levels in Europe.

© 2010 AFP

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