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Marking Labour’s homework

Osborne’s creation of the OBR was a canny move—so is Balls’s suggestion that the Opposition should use it

By Jay Elwes  

Ed Balls, the Shadow Chancellor, will speak today at the Labour Party conference. He has already made one appearance today, on this morning’s BBC Radio 4 Today programme.

During the interview, Balls suggested that Labour should be allowed to submit its budgetary plans to the Office for Budget Responsibility. The OBR, headed by the highly-respected economist Robert Chote, was set up by George Osborne shortly after he became Chancellor. Just as Gordon Brown had arrived in No 11 in 1997 and immediately given away power to set interest rates to the Bank of England, Osborne sought to take some of…

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