OBR: so far, we’re less reliable than the Treasury

When the incoming coalition Government established the Office for Budget Responsibility back in 2010, there were many in the UK economic cosmos who breathed a sigh of relief. Time and time again in the preceding years, the Treasury missed its economic and fiscal forecasts; Gordon Brown repeatedly borrowed more than he had promised. The hope was that the independent OBR would at least be more reliable than the in-house forecasts of … Continue Reading ››