The FT reports George Osborne has scrapped the pre budget report.
It would have been absurd not to this year — he’s doing it, in effect, on 20 October when announcing his plans for cutting spending. Doing it again in November this year would be illogical.
But I am concerned, none the less. The PBR has been useful. It’s allowed a lot of consultations to get going early to ensure better law has resulted. It has given a second chance to snap shot the economy. It has increased transparency.
I’m not sure losing those opportunities is worth any saving in future years.
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