Business School academic nominated for second term on UK's fiscal watchdog

Professor David Miles CBE, from Imperial Business School, has been nominated to continue serving in one of the UK’s most influential economic policy roles, helping oversee the country’s official economic and fiscal forecasts.

The Chancellor of the Exchequer, Rachel Reeves, has nominated Professor David Miles for reappointment to the Office for Budget Responsibility’s (OBR) Budget Responsibility Committee (BRC), where he has served since 2022.

He will begin a second and final term in January 2027 (subject to approval by the Treasury Committee), continuing his role as one of the three experts responsible for overseeing the UK's independent economic and fiscal forecasts.

"His continued service to the OBR is a testament to the respect he has earned as one of the UK’s leading economists." Professor Peter Todd Dean of Imperial Business School

The OBR plays a central role in the UK's public finances, providing independent analysis of the economy, assessing the sustainability of government spending and borrowing, and producing the official forecasts that inform Budgets and fiscal policy. Its Budget Responsibility Committee oversees the organisation’s key judgements, reporting its findings to Parliament.

Professor Miles, Professor of Financial Economics at Imperial Business School, brings decades of experience in monetary policy and financial economics. Before joining the OBR, he served on the Bank of England's Monetary Policy Committee from 2009 to 2015 and was awarded a CBE in 2016 for services to monetary policy.

Alongside his work at the OBR, Professor Miles continues his research and teaching at Imperial Business School. His research spans financial stability, housing markets, monetary policy and broader questions around economic inequality.

Professor Miles said: “I am delighted to have the opportunity to continue to be at the centre of the OBR’s analysis of the UK’s economic and fiscal position. I am also pleased to be able to do this alongside my teaching and research at Imperial. My links with such a strong group of researchers at Imperial is a tremendous asset in my policy analysis role at the OBR.”

Professor Peter Todd, Dean of Imperial Business School, said: “Congratulations to David on this richly deserved reappointment. His continued service to the OBR is a testament to the respect he has earned as one of the UK’s leading economists. We are immensely proud of the expertise and public service he brings to this important national role.”

The reappointment recognises Professor Miles' contribution to the OBR over the past four years, during which the organisation has continued to provide independent analysis and forecasts during a period of significant economic change and global uncertainty.

The nomination follows last month's announcement that Professor Jonathan Haskel, also of Imperial Business School, has been nominated as the next Chair of the OBR, subject to Treasury Committee approval. If confirmed, the appointments will see two Imperial economists serving on the organisation's three-member Budget Responsibility Committee, at the heart of the UK’s independent fiscal oversight.