Labour Vows to Beef Up Leftie OBR with New Powers mdi-fullscreen

Shadow Chancellor Rachel Reeves has announced Labour would give the Office for Budget Responsibility even greater oversight of the Treasury if elected, with Ministers legally bound to consult the OBR overlords before every single major fiscal event. Supposedly this is to prevent the OBR being “gagged” by Ministers who dare to do things they disagree with…

Reeves also revealed major tax and spend policies would be announced in November, with only mild tinkering in spring. She’s convinced this is a good idea, even though it obviously means the government won’t be as nimble in responding to unpredictable events:

“This is good international practice, that you set a date for the budget and you stick with it. “And to have a budget in the autumn rather than just a few days or weeks before the new financial year gives businesses, gives families, a chance to plan for any changes in taxation, for example, so that’s good international practice.”

Guido has already covered the ideological bent of the OBR; it is stuffed to the gills with Resolution Foundation types who hate Brexit and love taxes. One member of their advisory panel even claimed Soviet planning was beneficial in some countries. They are hardly going to beat the drum for pro-growth policies, even if Sir Keir pretends he’s more free market than the IEA nowadays…

Liz Truss has immediately fired back:

“It beggars belief that Labour think Britain’s problems will be solved by bigger government and even more powers for quangos. Hard-working people and businesses – freed from overbearing regulation, tax, and debt – are going to get Britain growing again, not more bureaucrats in London.”

Right on that one…

mdi-tag-outline Office for Budget Responsibility
mdi-account-multiple-outline Keir Starmer Liz Truss Rachel Reeves
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