Treasury committee defends Office for Budget Responsibility against critics

Summarised from 2 outlets · Updated 24 Sept, 16:26 · Archive

MPs reject calls to fundamentally reform the Office for Budget Responsibility, saying it should not be blamed for consequences of policy decisions.

The Treasury committee has defended the Office for Budget Responsibility against criticism from across the political spectrum, rejecting proposals for fundamental reform. The committee said the independent economic forecaster should not bear responsibility when policymakers must make tough decisions due to constrained public finances. A senior OBR economist has warned that tax rises could affect economic growth and public expectations.

How it is being reported

• OBR chief: Public ‘have not lowered their expectations about what the state can do’A top economist at the Office for Budget Responsibility (OBR) has sent a warning on the effect more tax rises could have on growth and on the public’s expectations about “what the state can do for them”. Professor David Miles, who is one of three top members at the independent fiscal watchdog, said that the [...]City AM · 24 Sept, 16:10
• Critics of UK government’s economic forecaster are ‘shooting the messenger’, say MPsTreasury committee rejects calls for fundamental reform of independent watchdog the Office for Budget Responsibility Attacks on the government’s independent economic forecaster from left and right of the political spectrum are akin to “shooting the messenger”, according to an influential group of MPs. The Treasury committee rejected “siren calls to fundamentally reform” the Office for Budget Responsibility (OBR) and said it should not be blamed when policymakers had to make tough decisions because of tight public finances. Continue reading...The Guardian · 23 Sept, 06:00

In this story: Office for Budget Responsibility · Treasury committee · David Miles · UK

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