Reeves claims that the UK's last government concealed spending data from the fiscal watchdog

The British Finance Minister Rachel Reeves said on Wednesday that the previous Conservative Government hid important information about public spending from Office for Budget Responsibility. She cited a recent report by the independent forecasting group.

Reeves quoted OBR's report, which stated that its forecasts for the March 2024 Budget published by the former government would have "materially" been different had it received a more complete picture of government spending.

Reeves, in her budget address, said: "Let me make it clear: any comparison between the OBR March forecast and today's forecast is false."

The OBR reported that the then Finance Minister Jeremy Hunt did not share information on "large pressures" affecting day-today spending.

Richard Hughes, OBR chair, wrote to the Treasury Committee of Parliament that information on "net pressures" (9.5 billion pounds) on departmental budgets for 2024-25 was not shared with OBR.

Hunt criticised Reeves for commissioning the review. He said it would politicise the fiscal watchdog, and harm its impartiality.

The OBR has made 10 recommendations to improve the transparency and credibility in the forecasting process of departmental expenditure plans.

Reeves stated that its recommendations will be implemented fully.

(source: Reuters)