Will Hutton criticises the Office of Budget Responsibility & others underwhelmed by Rachel Reeves' budget & its strategy for (renewed) public investment;
What they are under-estimating is the multiplier effect of investment, which is widely recognised elsewhere, but for the OBR seems to be being downplayed & minimised.
Reeves' may be vindicated (on this at least) in time.
(But there are plenty of other good reasons to be gloomy about the budget!)
#budget #investment
https://www.theguardian.com/commentisfree/2024/nov/03/investment-drives-growth-thats-why-gloomy-forecasters-are-so-wrong-about-the-budget
What they are under-estimating is the multiplier effect of investment, which is widely recognised elsewhere, but for the OBR seems to be being downplayed & minimised.
Reeves' may be vindicated (on this at least) in time.
(But there are plenty of other good reasons to be gloomy about the budget!)
#budget #investment
https://www.theguardian.com/commentisfree/2024/nov/03/investment-drives-growth-thats-why-gloomy-forecasters-are-so-wrong-about-the-budget
MiniMia 🏴 🇵🇸 •
Say something mildly positive about policy
Qualify it massively by saying "it's still shit though, don't @ me"
😂