Reform UK Pledges to Keep UK Budget Watchdog OBR if Elected

Published: 18 February 2026. The English Chronicle Desk. The English Chronicle Online

In a significant policy announcement on Wednesday, the populist political party Reform UK pledged that it would retain the Office for Budget Responsibility (OBR) — the United Kingdom’s independent fiscal watchdog — if it wins power in the next general election, aiming to reassure financial markets and the business community. The broadcaster BBC reported the development today as part of Reform’s broader economic strategy, signaling a shift from earlier comments by party leaders suggesting the body might be scrapped.

The OBR, established in 2010, produces independent forecasts on the economy and government finances that accompany annual budgets and fiscal statements. Its assessments are widely respected by markets and policymakers for adding credibility and transparency to public spending plans. Reform’s announcement — made by its newly appointed economic spokesman, Robert Jenrick — underscores a commitment to uphold fiscal discipline, even as the party seeks to reshape parts of the UK’s economic framework.

The pledge to retain the OBR contrasts with earlier remarks from Reform UK leader Nigel Farage, who acknowledged earlier this year that he was “giving serious thought” to scrapping the watchdog, describing it as a body that can “dictate” to elected politicians. Jenrick’s comments reflect an effort to balance political appeal with financial credibility, particularly as Reform seeks to broaden its appeal to investors, pension funds, and markets concerned about fiscal stability.

Under Reform’s plans, the Bank of England would also remain independent, preserving its role in setting monetary policy. However, the party intends to reform aspects of fiscal and economic governance, such as proposing ways to diversify and open up the OBR’s forecasting panels to external experts. Critics argue some of Reform’s broader economic plans on taxation and public spending lack detail, but the OBR pledge marks an attempt to reassure businesses and international observers that fiscal oversight would continue even under new leadership.

The commitment comes amid broader debates in UK politics about how much influence independent watchdogs should wield over elected government policy. Proponents of the OBR say its forecasts help guard against unsustainable budgets and protect long‑term economic stability. Opponents, including some Reform figures, have argued that strict adherence to its forecasts can limit political flexibility. Reform’s latest stance seeks a middle ground by keeping the watchdog while promising internal reforms and greater scrutiny of its methodologies.

As the UK approaches future elections, the role of independent fiscal institutions like the OBR — and how political parties commit to their independence and function — is likely to remain a central issue. For now, Reform UK’s pledge to retain the OBR sets it apart from earlier rhetoric within its own ranks and may influence debates about fiscal governance across the political spectrum.

Read More At>>