The Treasury Committee has rebuked the UK Government over its failure to produce a full economic forecast from the Office for Budget Responsibility to accompany last week's Mini Budget.
Chair of the committee Mel Stride has written to Chancellor Kwasi Kwarteng to ask that he make an OBR forecast public "immediately" since "it is hard to conclude other than that an absence of a forecast has in some part driven the lack of confidence in the markets". He added that the OBR had assured him a forecast would have been ready to accompany the fiscal event: "The OBR was standing by ready to provide a meaningful forecast alongside the 23 September statement had the Treasury requested it. No such request was received." Since the government's Mini Budget last Friday (22 Septembe...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
