Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Stephen Kerr

Tuesday 29th January 2019 Commons Chamber

[Stephen Kerr (Stirling) (Con)]

T10. Forecasting has had a bad rap recently from some people. Will the Chancellor therefore join me in welcoming a report from Commerce Bank that found that economic forecasting is more accurate now than it has been for most of the past 30 years?

[Mr Philip Hammond]

I agree with my hon. Friend on this. Forecasting has had a bit of a bad rap in this House over the past couple of years, but this report was interesting, because it showed that economic forecasts in fact have a good track record of delivering, and we should pay attention to what the experts are telling us.