Spring Statement Committee Select Committees
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 |