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...jennifer.hughes@ft.com...
Rosier picture of jobs market comes on top of upgrades to GDP but statistics agency urges caution
...George Steer...
...But Hughes on Tuesday called November’s estimate “a tiny number compared to the risks you face”....
...The club’s executive chairman is one Daniel J....
European central bankers warn it is too soon to declare victory over inflation
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...“People have maybe forgotten that this is what the repo market does — it sends signals about financial liquidity,” said George Pearkes, macro strategist at Bespoke Investment Group....
...James Bowler, Treasury permanent secretary, took exception to Hughes’ remarks, telling MPs on Wednesday: “I don’t agree with that. I don’t agree with the language used.”...
...Hughes told the BBC: “In some ways, by not changing the level of public spending in this Autumn Statement, that has given him £20bn to spend on tax cuts.”...
...Additional reporting by George Parker...
...Some Tories yearn for the days before the OBR, created in 2010 by the then Tory chancellor George Osborne to provide transparency to the public finances and to end the days of dubious economic forecasts...
...Richard Hughes, OBR chair, said this week that the £13bn estimate in November was a “tiny” amount, given the huge uncertainty around such analysis and incoming borrowing data....
...Richard Hughes, chair of the OBR, last month said the government’s forecasts for public spending after 2025 were beyond “a work of fiction”, saying ministers had not written down how they could be achieved...
...His spending plans are already deemed unrealistically tight by economists and the OBR’s head Richard Hughes described them as beyond “fiction”, because the government had not said how they could be achieved...
...Richard Hughes, the chair of the OBR, has criticised the lack of detail underpinning those spending assumptions....
...Hughes told the BBC’s Today programme: “In some ways, by not changing the level of public spending in this Autumn Statement, that has given him £20bn to spend on tax cuts.”...
...Real-terms cuts of that scale are not necessarily impossible, argues Ben Zaranko, a researcher at the IFS, who points to the austerity imposed by former chancellor George Osborne back in 2010....
...Additional reporting by Kate Duguid and George Steer...
...George, how about you?...
After strong first half to the year, markets are hit by concerns over interest rates and China
International Edition