Britain's Office for Budget Responsibility Chair Richard Hughes announced on Monday that it will review preparations for the forecasts underlying the Conservative's Spring Statement after newly-appointed Chancellor of the Exchequer Rachel Reeves' audit showed a £22 billion "black hole" in public spending by the previous government.
"This would constitute one of the largest year-ahead overspends against DEL [Departmental Expenditures Limits] forecasts outside of the pandemic years," Hughes noted in the statement, noting that he previously expressed concerns about the "transparency" and "credibility" about the Conservatives' "forecasting," "planning," and "controlling" the 40% of public expenditures.
The review will be aimed at examining the "adequacy" of information provided by the Treasury to the OBR regarding departmental spending.
