The OBR’s depressing forecasts
I have a post up at Left Foot Forward, looking at today’s Economic and Fiscal Outlook, published by the Office for Budget Responsibility. The OBR is predicting a more depressed economic recovery than we had from any of the recessions of the past 40 years. The new figures suggest that public sector employment is going to fall by less than they predicted in June – mainly because benefit claimants are taking a much worse hit than anyone thought likely back then. As Brendan says, this is a ‘recovery’ that will still look anaemic by the time of the next general election.