Danni Hewson, head of financial analysis at AJ Bell, said: “News that the head of the OBR has fallen on his sword won’t come as much of a surprise to anyone.
“The surreal experience of digesting the meat of the Budget before the Chancellor had the chance to lay out her smorgasbord of tax and spend decisions was one that couldn’t go unremarked.
“Though questions still remain over other aspects of this year’s Budget build-up, news of Richard Hughes’ departure might buy the Chancellor some time to win over the voting public and those in her own party.
“The yield on the 10-year gilt has crept up today as the dust left by the Budget has continued to swirl.
“But despite all the noise, markets heard one important thing last week: the Chancellor’s headroom has been significantly padded out and the fiscal rules remain at the forefront of government thinking.”
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