Summary
The article discusses the influence of the Office for Budget Responsibility (OBR) in the United Kingdom. There is a debate about whether the OBR has gained too much power over economic policy decisions. The OBR provides forecasts and scrutinizes government policies, which some claim limits government actions.
Key Facts
- The Office for Budget Responsibility (OBR) analyzes the UK Budget and assesses government policies.
- Some people argue that the OBR has too much influence on economic policy.
- The OBR is staffed by civil servants and young intellectuals and operates within the Ministry of Justice building.
- Critics, including some politicians and unions, suggest the OBR limits government ambitions.
- The OBR is officially tasked with monitoring government spending and releasing economic forecasts.
- Recent changes have given the OBR more independence and authority to produce forecasts.
- The Labour government gave the OBR new powers to create forecasts without government requests, partially in response to a past economic event.
