Richard Hughes, head of the Office for Budget Responsibility (OBR), stated the Treasury may have breached the law by withholding vital financial data required for accurate forecasts.
Hughes characterized the Treasury's failure to share budgetary information as a 'systematic failure,' affecting the OBR's ability to provide accurate public finance forecasts.
Hughes emphasized the trust issue, stating their relationship with the Treasury has shifted from 'trust' to 'trust but verify' due to lack of transparency.
Chancellor Rachel Reeves referred to inheriting a £22 billion budget 'black hole,' a claim partly backed by the £9.5 billion in undisclosed spending pressures.
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