James Murray
Main Page: James Murray (Labour (Co-op) - Ealing North)Department Debates - View all James Murray's debates with the HM Treasury
(2 years, 1 month ago)
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James Murray (Ealing North) (Lab/Co-op)
The Chancellor’s refusal to publish OBR forecasts just over two weeks ago played a key role in falling confidence in the pound, rising borrowing costs and market panic. His woeful decision to avoid scrutiny by gagging the OBR helped to increase mortgage costs for working people, who are now paying the price for Conservative failure.
The Chancellor’s behaviour has been described by the former Bank of England Governor Mark Carney as “undercutting” economic institutions. Jonathan Haskel, a member of the Monetary Policy Committee, has made it clear that a
“sidelined OBR generates more uncertainty”.
Does the Chancellor accept that they are right?
Kwasi Kwarteng
As I have repeatedly said today, the OBR will have a fully forecasted and scored response to the medium-term fiscal plan in less than three weeks.