Founding MPC member leaves UK fiscal watchdog after three months

Houses of Parliament

Sir Alan Budd announced his departure from the UK's Office of Budget Responsibility (OBR) on Tuesday, after less than three months at the helm.

Sir Alan, a former member of the Bank of England's Monetary Policy Committee (MPC), said he would not renew his contract as head of the OBR, a newly-created body overseeing the government's budget projections.

George Osborne, chancellor of the exchequer, created the OBR in one of his first moves in office and appointed Budd to head the organisation on an

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