Stephen Tall has a characteristically thoughtful response to my strident call for the OBR to go deeper into evaluating party policy. His major objection is that we run the risk of “politicizing” the OBR. This is an important risk, and one that echoes warnings given by the IEA and Ryan Bourne amongst others. Ryan onContinue reading “Briefly on the OBR”
And let it dive deeper into the weeds of political fiscal choices. Today Ed Balls has called a debate on allowing the OBR to look at Labour’s fiscal promises, as well as those of the serving government. Interestingly, he appears to have the cautious support of both Danny Alexander and Robert Chote. This move is generallyContinue reading “Let the OBR range more freely”
The big headline from Osborne’s first days at the Treasury is his setting up the Office for Budget Responsibility. Stephanie Flanders describes the move here (she adds an observation about Osborne asking Mervyn King for permission to start cutting) and argues that this is not as significant as Brown giving away power over interest ratesContinue reading “Wresting back monetary control, surrendering fiscal”
The Treasury does not systematically overestimate the budget surplus, if you take a long view.