May I interrupt the noble Lord? I am totally puzzled now. The noble Lord uses the word ““requirement””. The people who comprise the OBR will not be idiots. They are going to be experts and qualified economists. Quite independent of what is in this Bill, if the forecasting is not working well, they will ask themselves why they got it wrong. There is no need for a requirement here unless you assume that a bunch of morons is going to be appointed to the OBR. If you get a forecast wrong, you immediately ask why you got it wrong. Why is there a need for a requirement to do something that would be a normal way of working?
Budget Responsibility and National Audit Bill [HL]
Proceeding contribution from
Lord Peston
(Labour)
in the House of Lords on Monday, 6 December 2010.
It occurred during Debate on bills
and
Committee proceeding on Budget Responsibility and National Audit Bill [HL].
Type
Proceeding contribution
Reference
723 c13-4GC
Session
2010-12
Chamber / Committee
House of Lords Grand Committee
Subjects
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Timestamp
2023-12-15 21:18:26 +0000
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