Key facts
- The TUC is calling for a review of the Office for Budget Responsibility.
- The TUC argues OBR models hinder economic growth and public investment.
- The TUC wants Chancellor John Healey to conduct the review.
- The review should re-examine the OBR's assumptions.
- The OBR's assumptions are to be reviewed ahead of the upcoming budget.
The Trades Union Congress (TUC) has called for a comprehensive review of the Office for Budget Responsibility (OBR), asserting that its current economic models are a hindrance to growth and public investment. The union's demand is directed at the new chancellor, John Healey, who is expected to re-examine the OBR's underlying assumptions in his upcoming budget. The TUC believes that the OBR's framework, which influences government fiscal policy, is overly restrictive and prevents the necessary levels of public spending and investment required to stimulate the economy. By urging a review, the TUC aims to influence the OBR's forecasting methodology to better align with objectives for economic expansion and increased public services. The union's stance suggests a fundamental disagreement with the OBR's approach to fiscal responsibility and its perceived impact on the government's ability to invest in key areas.