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Fiscal rules 'close to meaningless' unless sensitivity to OBR forecasts is reduced
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At a Treasury Committee hearing yesterday (21 February), a trio of economists were quizzed on the role of OBR forecasts ahead of Chancellor Jeremy Hunt's Spring Budget on 6 March. Charlie Bean, professor at the London School of Economics, who has also served as chief economist and deputy governor for monetary policy at the Bank of England and as a budget responsibility committee member at the OBR, said it would be «desirable» to operate the fiscal regime in a way that was less reliant on the OBR forecasts. Nina Skero, CEO of the Centre for Economic and Business Research, agreed, notin...
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