Spring Statement Committee Select Committees


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Spring Statement Committee

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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Subtitles will resume at 11.30am.

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In terms of the relative likelihood

of those 4.5 hypotheses I have

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racked them and what, in my view, is

descending likelihood of truth. As

1:30:271:30:36

we go through this year and we get

more information sought by our next

1:30:361:30:44

forecast with more quarters of

observation, if productivity growth

1:30:441:30:47

were to remain strong, than that

starts making you think, maybe

1:30:471:30:56

something real has happened. - sort

your rank those hypotheses in

1:30:561:31:00

descending order of probability.

That's right.

I was going to ask a

1:31:001:31:09

question about the difference

between your forecast and that of

1:31:091:31:13

the Bank of England but I will take

the hypothesis and explain -- that

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is explained by the descending

order. So miss measurement, that the

1:31:191:31:31

something the professor has given

evidence to and that is relatively,

1:31:311:31:35

going back two years,, that was

higher up your interest and higher

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up in your thinking. You spoke,

sampling error. Could you just say

1:31:431:31:48

even for bit about where in the

future you think that might go.

1:31:481:31:56

That is where we leave our live

coverage from the select committee

1:31:561:31:59

rooms. You can continue watching

coverage online, on our website.

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