Independent 'Office for Budget Responsibility' to be created
 

A good idea I reckon - it was just too easy for Brown and Darling to dream up all sorts of unrealistic 'growth' forecasts in order to make their spending plans look realistic.

http://www.timesonline.co.uk/tol/com...cle7129189.ece

What do you think?

Re: Independent 'Office for Budget Responsibility' to be created
 

I've no doubt that Osborne comment that it will be a rod for his and furture chancellors' backs is quite accurate, and I agree it will be a good thing.

Re: Independent 'Office for Budget Responsibility' to be created
 

New Labour created so many quangos - I wonder why they didn't create this one? :confused: :rolleyes:

Re: Independent 'Office for Budget Responsibility' to be created
 

They gave the Bank of England control over interest rates didn't they? Isn't this a similar move?

Re: Independent 'Office for Budget Responsibility' to be created
 

Your point being? Oh I see, that they did something good and the fact that they didn't do far more is OK??? :confused:

Of course, the BOE's current dilemma is how they juggle the balls they've been handed - how to keep inflation under control without putting interest rates up... Some may say Brown gavce them a 'hospital pass' but I wouldn't care to comment on that...

Re: Independent 'Office for Budget Responsibility' to be created
 

I never said that the fact they didn't do more good was ok. I pointed that in the first few months of office they made a similar move to the one Osborne has made is all. Unless you expected that remark to go unchallenged, I don't see what's wrong with pointing it out.

Labour did do good as well as bad. This government is likely going to follow the same pattern. We can always complain that a government didn't do enough good and then point to good ideas and claim the previous government should have done it can't we?

Re: Independent 'Office for Budget Responsibility' to be created
 

But that's all they had control over. They couldn't for instance raise/lower fuel duty. They could only react to any situation that the Labour Government itself created.

Re: Independent 'Office for Budget Responsibility' to be created
 

Nothing's wrong with pointing something out and nothing's wrong with replying is there? ;)

I didn't and have never claimed New Labour did nothing right - I just asked why they didn't go further and put fiscal forecasting in the hands of an independent body outside of government influence. I reckon it's because they wanted to be able to dream up 'forecasts' which suited their spending plans. What do you think?...

Re: Independent 'Office for Budget Responsibility' to be created
 

No, I can't. You would have to ask them.

Again you can always say a government didn't go far enough, unless we're living in utopia there is always a lot to be done. Of course Labour may well have fallen quite a way short in a number of areas *cough*civil liberties*cough* but there we go. They lost the election.

Why didn't the previous Tory government give control to the Bank of England, why didn't they sort out hospitals, why didn't they...etc etc...We can go around all day.

Re: Independent 'Office for Budget Responsibility' to be created
 

....and that's why we have discussion forums isn't it? To discuss things like this and wonder about the rationale....

Re: Independent 'Office for Budget Responsibility' to be created
 

Is it a good thing yes it is, should it have been done a lot sooner regardless of who the government is yes it should :).

Re: Independent 'Office for Budget Responsibility' to be created
 

Funny how a discussion can so resemble an argument..;)

Re: Independent 'Office for Budget Responsibility' to be created
 

Odd how only a few months ago Mr Cameron was so against the proliferation of Quangos:

http://www.conservatives.com/News/Sp...g_Quangos.aspx

Re: Independent 'Office for Budget Responsibility' to be created
 

Perhaps he intends to discriminate between the valuable and not so valuable. That'd be reasonable wouldn't it?

This makes interesting reading:

http://www.telegraph.co.uk/news/news...-per-cent.html



In other news related to matters financial:

Top civil servants 'protested over Labour spending'

See:

http://www.cableforum.co.uk/board/35023995-post446.html

If it's true that'd hardly be responsible financial management would it but then that's no real surprise to most of us.