Tag #Office For Budget Responsibility

How does the OBR's forecasting schedule conflict with Labour's fiscal policy objectives, and what historical context explains this conflict?

Labour's disillusionment with the OBR stems from a perceived inflexibility in reflecting the government's policy impacts on market confidence. The twice-yearly forecasting schedule, mandated since 1975, clashes with the party's aim for a single annual budget, creating tension and undermining the intended fiscal strategy. This tension is further exacerbated by the OBR's reportedly cautious approach, which doesn't fully account for measures Labour believes will positively influence the economy.