131. Why The Stats Behind The Budget Might Be Wrong
The Rest Is Money
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The Role of the Office for Budget Responsibility
This chapter examines the establishment and influence of the Office for Budget Responsibility (OBR) in the UK, focusing on its impact on fiscal planning and economic forecasting. It discusses the controversies surrounding the OBR's accuracy, its accountability compared to private forecasters, and the challenges of predicting economic outcomes amid unforeseen events. The chapter ultimately underscores the OBR's critical role in shaping government policy and long-term fiscal decisions amidst varying economic scenarios.
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