07 July 2010

Wee Georgie blots his copybook

A week ago, rather earlier than anticipated, the OBR was forced to produce its forecast of job losses as a result of public expenditure cuts, thus enabling the Prime Minister to put on a braver face than might otherwise have been the case. Furthermore, the OBR tended towards the heroic in the assumptions underlying the forecast.

Yesterday, Sir Alan Budd let it be known that he would not remain as OBR chief beyond the end of the month.

Coincidence? Maybe. But it still leaves boy George with a problem: where does he find a respected independent economist prepared to take on the job of leading an organisation which is totally reliant on Treasury economists to do the heavy lifting and whose credibility has already been compromised?

All a bit of a guddle. I wonder if George is regretting his panic of last week? Governing can be such a trial sometimes.

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