An unprecedented row has broken out between the Chancellor and the OBR about short-term productivity forecasts, but what should really worry Reeves is the long-term projections for debt, says Paul Ormerod

The row – no, the furore – between the Chancellor, Rachel Reeves, and the Office for Budget Responsibility (OBR) is unprecedented.

The resignation of the OBR’s Chairman, Richard Hughes, is unlikely to draw a line under the matter.

Who could have predicted in the late summer of 2024 that within 18 months the Chancellor and the OBR would be at daggers drawn and the Chairman of the OBR defenestrated?

On coming to power in July 2024, Rachel Reeves eulogised the OBR and brought in legislation to strengthen its position.

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The continued drama centres around the timeline........

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