Chair of the Office of Budget Responsibility Behaving Irresponsibly? - Image 1

Chair of the Office of Budget Responsibility Behaving Irresponsibly?

Posted on: 11/03/2024

Richard Hughes, Chair of the UK Office of Budget Responsibility, has the bared faces cheek to use phrases like the “death of cash” and to put increases in VAT revenue mainly down to reductions in evasion due to the decline in the use of cash?

Complete and utter nonsense, on both counts.

It is easy to understand where Rich is coming from though.

Harvard, for starters, where the worlds most anti-cash Professor - Prof Kenny Rogoff - has been holding court for decades.

No doubt the Prof and young Master Hughes shared many a Flat White pondering how the freedoms cash gives the public EVERYWHERE could be curtailed.

Kenny and Rich don’t just have Harvard in common.

They both also worked at the International Monetary Fund, another anti-cash organisation.

Oh and Rich has also had several stints at HM Treasury….

I shall be writing to Richard Hughes on Monday asking for a full explanation of his remarks and, specifically, calling on him to withdraw his use of the phrase “ death of cash”.

Cash is NOT dead, Rich - BUT there is certainly an attempted murder in progress.

Et tu, Rich?

Source: telegraph.co.uk/business/2024/03/07/ftse-100-markets-budget-hunt-national-insurance-tax-cuts




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