Member

Earlier, the noble Lord, Lord Eatwell, commented that the OBR has a less pessimistic view of the effect of the proposed increase in national insurance for employers than has frequently been expressed. The OBR, in my view, has the outstanding ability consistently to get things wrong and still be treated with respect and admiration and referred to in hushed tones. It is an act of genius—how does it manage to achieve this when its forecasts are so frequently more wrong than right?