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Productivity growth: is the OBR being too optimistic?

Brexiteers have criticised the organisation—but may have it the wrong way round

By Duncan Weldon  

Office for Budget Responsibility (OBR) chairman Robert Chote ©Lewis Whyld/PA Archive/PA Images

The Office for Budget Responsibility has found itself under attack from Brexit supporters this week, charged with being too pessimistic on the impact of leaving the EU on the UK economy. Its new forecasts—released at the Autumn Statement—show an additional cumulative £120bn of new borrowing by 2021, with around half of that directly related to June’s referendum result. But in one vitally important way,…

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