{"id":73156,"date":"2016-08-11T12:43:50","date_gmt":"2016-08-11T12:43:50","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=4fd2477c1102f57e8f531996c9524f87"},"modified":"2016-08-11T12:43:50","modified_gmt":"2016-08-11T12:43:50","slug":"news-story-sir-charles-bean-nominated-for-appointment-to-the-office-for-budget-responsibility","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=73156","title":{"rendered":"News story: Sir Charles Bean nominated for appointment to the Office for Budget Responsibility"},"content":{"rendered":"
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The Chancellor has nominated Sir Charles Bean for appointment to the Budget Responsibility Committee (BRC<\/abbr>) of the Office for Budget Responsibility (OBR<\/abbr>).<\/p>\n

Led by the Chairman, Robert Chote, the BRC<\/abbr> has executive responsibility for the core functions of the OBR<\/abbr> and is responsible for judgements reached in OBR<\/abbr> economic and fiscal forecasts.<\/p>\n

The new BRC<\/abbr> vacancy arises because Sir Stephen Nickell is due to step down from office in December this year. Sir Stephen will remain in post for the upcoming Autumn Statement forecast.<\/p>\n

The Chancellor said:<\/p>\n

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I am delighted to nominate Sir Charles Bean for appointment to the OBR<\/abbr>\u2019s Budget Responsibility Committee. As one of Britain\u2019s pre-eminent economists, Sir Charles brings decades of economic and policy expertise which will strengthen the existing independent and authoritative analysis of the OBR<\/abbr>.<\/p>\n

I would also like to put on record my thanks to Sir Stephen Nickell for his years of service to the OBR<\/abbr> and for his significant contribution to the world-class work and standing of the organisation in its formative years.<\/p>\n<\/blockquote>\n

Sir Charles Bean said:<\/p>\n

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I am delighted that the Chancellor has nominated me for appointment to the OBR<\/abbr>\u2019s Budget Responsibility Committee. Sir Stephen Nickell and the rest of the BRC<\/abbr> have done excellent work in establishing the credibility and reputation of the OBR<\/abbr>, and I will be honoured to take up the post should the Treasury Committee wish me to do so.<\/p>\n<\/blockquote>\n

Further information<\/h3>\n

Sir Charles Bean is a highly respected economist. He spent fourteen years as a member of the Bank of England\u2019s Monetary Policy Committee, including six years as Deputy Governor for Monetary Policy. Sir Charles has published extensively on economic issues and is currently a professor at LSE<\/abbr>. Sir Charles has worked closely with the public sector throughout his career, serving as an adviser to HM Treasury, and both Parliamentary and European Union Committees.<\/p>\n

Sir Stephen Nickell will step down as a member of the OBR<\/abbr>\u2019s BRC<\/abbr> in December this year. Sir Stephen\u2019s first appointment to the BRC<\/abbr> was announced in 2010 and he was re-appointed in October 2013, when he announced his intention to remain in post for three years.<\/p>\n

As set out in the Budget Responsibility and National Audit Act 2011, appointments to the OBR<\/abbr>\u2019s BRC<\/abbr> require consent from the Treasury Committee. Subject to this consent, Sir Charles is expected to formally take up this new role from the start of 2017.<\/p>\n

The Budget Responsibility and National Audit Act 2011 allows each term of a BRC<\/abbr> member to be up to five years in length, Sir Charles\u2019 first term will therefore finish in January 2022. BRC<\/abbr> members can serve for a maximum of two terms.<\/p>\n

If confirmed, Sir Charles will join Robert Chote (Chair) and Graham Parker on the BRC<\/abbr>, when he succeeds Sir Stephen Nickell.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Chancellor Philip Hammond nominates Sir Charles Bean for appointment to the OBR’s Budget Responsibility Committee.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/73156"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=73156"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/73156\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=73156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=73156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=73156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}