Former Chancellor Jeremy Hunt has criticised the Office for Budget Responsibility (OBR) for allegedly compromising its political impartiality, as it prepares to release a review potentially critical of the Conservative government on budget day.

The review is expected to address claims by Chancellor Rachel Reeves of a £22 billion fiscal gap left by the previous administration.

According to Reeves, this financial “black hole” in public finances only became apparent upon her entry into office, alleging that the Tory government withheld key information from the OBR. The review, to be published on the same day as the Autumn Budget, will focus on the transparency of departmental spending and the past government’s provision of data to the OBR.

Hunt voiced his concerns about the timing, stating, “I do not believe publishing a review with criticisms of the main opposition party on the day of a budget is consistent with political impartiality.” He further claimed that no Conservative ministers were consulted, labelling the review as a “political intervention.”

The timing has led Hunt to suggest that the OBR might have “pre-judged the outcome,” casting doubt on its neutrality. The release coincides with Reeves’ anticipated budget, which is expected to include tax hikes and spending cuts aimed at addressing the alleged £22 billion fiscal shortfall.

OBR chairman Richard Hughes defended the timing, clarifying that the report focuses on “the institutional relationship between the OBR and Treasury” and the “adequacy of the information and assurances” previously provided. He explained that, given the potential market sensitivity of the report’s contents, it was neither necessary nor appropriate to share the conclusions with previous ministers before publication.

As the OBR’s findings are set to coincide with Reeves’ budget announcements, debates over fiscal transparency and the watchdog’s role in overseeing government accountability are likely to intensify. The report may add pressure on the Conservative party, with implications for both government transparency and the autonomy of independent fiscal institutions.

Jamie Young

Jamie is a seasoned business journalist and Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting. Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops to stay at the forefront of emerging trends. When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs, sharing their wealth of knowledge to inspire the next generation of business leaders.