UK's OBR accuses Treasury of hiding £9.5 billion shortfall, prompting calls for investigation.

The UK's Office for Budget Responsibility (OBR) is implementing a "trust but verify" strategy after accusing Treasury officials of withholding crucial information about a £9.5 billion funding shortfall before the March budget. This undisclosed shortfall may have impacted economic forecasts. OBR Chair Richard Hughes noted a failure in transparency, prompting the Treasury Committee, led by Meg Hillier, to consider investigating possible legal breaches related to the oversight.

November 05, 2024
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