When Whitehall experts run the economy
The Office for Budgetary Responsibility apparently “needs more time to factor in budgetary changes to their forecasts or risks losing its credibility”.
You mean to say that technocratic experts at the OBR, like those at the MPC, don’t always get things right? Who’d have thought it.
Perhaps the conclusion to draw is not that we should try to give them ever more data and time to get things right. Instead, we must make sure we don’t depend on technocratic experts for running the economy.