Former journalist and economist Mr. Robert Chote has been elected as the chief of the Office for Budget Responsibility (OBR). Mr. Chote aged 41, is currently working for the Institute for Fiscal Studies and he will replace Sir Alan Budd who left his post last month.

The Chancellor Mr. George Osborne formed the OBR in the month of May in order to track the government borrowing, public finances and other economic data. So many questions rose about the independence of the body at the time of its formation.

Mr. Chote is currently working as the director of the IFS which is well known for its economic analysis. Earlier he worked as a journalist for the Independent and Financial Times and then worked as a adviser of the International Monetary Fund (IMF).

The IFS has said that the last budget of the coalition government was regressive and affected the lowest paid people very badly. But the report of IFS was rejected by the deputy prime minister Nick Clegg. The appointment was announced by the Chancellor Mr. George Osborne but needed a parliamentary approval also.