OBR Needs New 10-Year Forecasts, UK Treasury Committee Says

As the UK budget approaches, a group of influential MPs from the Treasury Committee has called for the Office for Budget Responsibility (OBR) to develop new 10-year forecasts to address the tendency for short-term thinking in government policy. This move aims to provide a more comprehensive and long-term financial planning framework, potentially leading to more sustainable economic decisions. The proposal underscores the growing recognition of the need for forward-looking fiscal strategies to navigate future economic challenges.