The Chancellor has approved the appointment of Baroness Hogg and Dame Susan Rice as non-executive members of the Office for Budget Responsibility. Sarah Hogg and Susan Rice have been appointed to continue the work of the oversight board and audit committee as Sir Chris Kelly and Bronwyn Curtis CBE complete their final terms over the next twelve months. The oversight board is responsible for managing risks and safeguarding the independence of the OBR.
Baroness Hogg has had a long and varied career in economic journalism, public policy (including as the Head of No. 10 Policy Unit), and as a director, council member and chairman in numerous private and public sector organisations and committees including, Royal Mail, the BBC, the Institute for Fiscal Studies, the Financial Services Authority, London Business School, Frontier Economics and 3i. She was the lead independent Director for HM Treasury for six years until 2017. She was appointed to the House of Lords as a Conservative peer in 1995 and became a crossbench peer in 2010, following her appointment as Chair of the Financial Reporting Council. She was a member of the House of Lords Economics Affairs Committee from 1999 to 2003.
Dame Susan Rice has a distinguished background in finance and banking including as the former managing director of Lloyds Banking Group Scotland. She was the founding Chair of the Scottish Fiscal Commission and led the independent forecaster for Scotland from the early stages of its development and into its statutory role – working closely with the OBR throughout. She has extensive experience in corporate governance as a member of boards in a wide range of public and private sector organisations – including the Bank of England, Scottish and Southern Energy and the Scottish Council for Development and Industry.
Sir Chris Kelly’s final term ended on 20 June 2023 and Bronwyn Curtis’ final term ends on 9 June 2024.
Richard Hughes said:
“The OBR has benefitted hugely from the knowledge, experience, and expertise of Sir Chris Kelly over the last six years. His wisdom and guidance have helped steer the OBR through challenging times. We are very grateful for his valuable contributions to the OBR.
We are very fortunate to be welcoming two such distinguished new members to the OBR’s Board. Dame Susan and Baroness Hogg have a wide range of experience of leadership in the public and private sectors and we look forward to their insight and guidance over the coming years.”