0:00
Let's have a look now at that
0:01
extraordinary moment when Rachel Reese's
0:03
have to confess that her entire budget
0:05
had been leaked in advance. A really
0:07
incredible moment in the House of
0:09
This is deeply disappointing and a
0:11
serious error on their part. The office
0:15
the office of budget responsibility have
0:18
already made a statement taking full
0:20
responsibility for their breach. I
0:24
This really was quite an extraordinary
0:26
moment. Um where does it leave? Let's
0:28
just have a little aside here before we
0:29
go back into the economics. Where does
0:31
it leave the OBR? It's a contentious
0:32
institution. Of course, the chancellor
0:34
elevated them to sort of godlike status
0:36
of authority before the election, but
0:38
there's going to have to be some heads
0:40
rolling there surely. Helen, what do you
0:42
Well, can I say this? It gives me no
0:44
pleasure to say this, but I fear it
0:45
could be the beginning of the end of the
0:46
OBR. Now some people may well welcome
0:48
that there's been actually frustration
0:50
amongst all parties and economists about
0:52
in some regards this but
0:57
one of the other things this is you know
0:59
we've got that 200page document and
1:00
we've been working our way through it.
1:02
There are questions actually over some
1:04
of um the narrative. This process has
1:06
been so torturous and we've heard
1:10
various leaks and oh we're going to go
1:11
you up the hill towards this breaking
1:13
this pledge but a new forecast from the
1:14
OBVR meant I couldn't. But then actually
1:16
when you read about the in this document
1:18
that doesn't really seem to be the case.
1:19
They they they the timelines don't stack
1:22
up. The original black hole isn't quite
1:24
as big as allegedly she'd looked at.
1:27
There's just so much doesn't work. And
1:28
then we get this this I mean this is
1:30
actually the story of today, isn't it?
1:31
is that that the OBR has we need to know
1:34
what exactly happened and I as I say it
1:37
gives me no pleasure to say this because
1:38
I think it's good to have an arms length
1:40
body but don't treat them as the god
