Call for a second economic forecast

THE UK Government must force the Office for Budget Responsibility to take more account of policy “upsides” when assessing an impact on growth, Tony Blair’s think tank has said.

- FELIX ARMSTRONG

THE UK Government must force the Office for Budget Responsibility (OBR) to take more account of policy “upsides” when assessing an impact on growth, Tony Blair’s think tank has said.

The Treasury watchdog should be required to be bolder in predicting growth to reward more ambitious economic policies, a report by the Tony Blair Institute (TBI) suggested.

The OBR is widely expected to downgrade its economic and productivity forecasts ahead of the Budget, which will likely leave Chancellor Rachel Reeves with a fiscal black hole of more than £20bn.