UK Chancellor John Healey is set to face pressure from the Trades Union Congress (TUC) to overhaul the country's official economic watchdog, the Office for Budget Responsibility (OBR). The TUC claims that the OBR's forecasts consistently downplay the benefits of investment, hindering economic growth and development. As the new chancellor prepares to deliver his first budget on October 28, the union umbrella body is urging him to order a comprehensive review of the OBR's approach, which they describe as "root and branch." This move comes as the mayor of Greater Manchester, Andy Burnham, has pledged to achieve "good growth in every postcode," sparking renewed debate about the UK's economic strategy and the role of the OBR in shaping its forecasts.
TUC will urge John Healey to order ‘root and branch’ assessment of watchdog amid claims its forecasts downplay investment benefitsThe TUC is urging the new chancellor, John Healey, to order a “root and branch” review of the Office for Budget Responsibility, claiming the forecaster’s approach holds back investment.With Andy Burnham promising “good growth in every postcode”, the union umbrella body is calling on Healey to use his first budget on 28 October to re-examine the assessments of the watchdog. Continue reading...
