The OBR’s non-executive members commissioned Kevin Page to lead the first External review into the work of the OBR in April. The Review concludes that the OBR has “laudably achieved the core duties of its mandate” and “has succeeded in reducing perceptions of bias in fiscal and economic forecasting”. It also makes recommendations on how to build upon our early successes as we approach the end of our first five years.
Lord Burns, Chair of the OBR’s Oversight Board, said:
“We would like to thank Kevin Page and his team for their work on the first external review of the OBR. Overall it is a very positive assessment. They have highlighted some useful and interesting issues which will help us focus our efforts in the future. We welcome the recommendations and will work with the Budget Responsibility Committee and the rest of the OBR to act on them where possible. I will also write to Sir Nicholas Macpherson to respond to elements of the recommendations which are outside direct control of the OBR and which may require us to work with the Treasury and other government departments.”
Robert Chote, Chair of the OBR, said:
“We are grateful to Kevin and his team, and to everybody who has provided feedback on our output and performance. The Review has provided some useful recommendations which will help shape our plans for the future.”