Spring Statement Committee Select Committees
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Live coverage of the Treasury Committee's session on the Spring Statement 2018, with evidence from Robert Chote, chairman of the Office for Budget Responsibility, and colleagues.
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Transcript
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Subtitles will resume at 11.30am. | 1:25:22 | 1:25:24 | |
In terms of the relative likelihood
of those 4.5 hypotheses I have | 1:30:21 | 1:30:27 | |
racked them and what, in my view, is
descending likelihood of truth. As | 1:30:27 | 1:30:36 | |
we go through this year and we get
more information sought by our next | 1:30:36 | 1:30:44 | |
forecast with more quarters of
observation, if productivity growth | 1:30:44 | 1:30:47 | |
were to remain strong, than that
starts making you think, maybe | 1:30:47 | 1:30:56 | |
something real has happened. - sort
your rank those hypotheses in | 1:30:56 | 1:31:00 | |
descending order of probability.
That's right. I was going to ask a | 1:31:00 | 1:31:09 | |
question about the difference
between your forecast and that of | 1:31:09 | 1:31:13 | |
the Bank of England but I will take
the hypothesis and explain -- that | 1:31:13 | 1:31:19 | |
is explained by the descending
order. So miss measurement, that the | 1:31:19 | 1:31:31 | |
something the professor has given
evidence to and that is relatively, | 1:31:31 | 1:31:35 | |
going back two years,, that was
higher up your interest and higher | 1:31:35 | 1:31:43 | |
up in your thinking. You spoke,
sampling error. Could you just say | 1:31:43 | 1:31:48 | |
even for bit about where in the
future you think that might go. | 1:31:48 | 1:31:56 | |
That is where we leave our live
coverage from the select committee | 1:31:56 | 1:31:59 | |
rooms. You can continue watching
coverage online, on our website. | 1:31:59 | 1:32:07 |