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How could the Chancellor fill a £22bn gap?

Publié par Clifford Armion le 12/04/2012

Ben Chu

Pity the poor Office for Budget Responsibility. George Osborne's fiscal watchdog-cum-forecaster has been a model of openness since it was set up in May 2010. Visit the OBR's website and one can see its forecasts broken down into granular detail. It even publishes the equations that Robert Chote and his small team of economists use to calculate the size of the UK's structural deficit. Compared with the Bank of England's interest-rate setting Monetary Policy Committee, which keeps its calculations and equations jealously hidden from the unwashed public, the OBR lets it all hang out.
The trouble is that openness has a price. It allows other economic researchers to replicate the OBR's methods and predict what Mr Chote and co are going to conclude even before they have done their sums. So when the OBR publishes its forecasts tomorrow and rules whether or not Mr Osborne is on course to hit his Fiscal Mandate, its verdict is unlikely to come as a total surprise.
Read on...
Pour citer cette ressource :

"How could the Chancellor fill a £22bn gap?", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), avril 2012. Consulté le 26/02/2021. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/how-could-the-chancellor-fill-a-22bn-gap-