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| Name | What is the Office for Budget Responsibility, the OBR, that politicians put such faith in? |
| Video Uploader | Video From KernowDamo |
| Upload Date | This Video Uploaded At 04-12-2022 11:32:46 |
| Video Discription | The Office for Budget Responsibility: Advisory board to government, or just scapegoats for poor policy making? Right so we’ve had the autumn statement, that it’s another assault on ordinary incomes is of no surprise. The Labour alleged opposition have said their piece whilst basically agreeing with the Tories that there is a £55bn black hole to fill, but who told them there was this black hole and who’s telling them to fill it? The basis for the entire autumn statement is based on projections by the OBR or Office for Budget Responsibility. They’ve made predictions relating to inflation, growth and they’ve said why they’ve come to these conclusions, blaming higher energy prices and other global factors and actually all of Jeremy Hunt’s decisions were based on what this organisation have advised the government. There was also as you heard no argument from Rachel Reeves regarding the OBR, she simply attacked the government, who were basing their choices on the same organisation so, bluster essentially from Reeves, who, given the acceptance of her party of that black hole of debt, probably wouldn’t do things much differently. So who the hell are the OBR? Who are these people who tell the government and other parties stuff, who they all seem to revere, who they then make policy and budgeting decisions based on what they’re told by them? The Office for Budget Responsibility was formed in 2010 by the incoming Coalition government and George Osborne particularly, presumably he needed someone to check his sums having been put in charge of the nations economy with just an O level in Maths, he actually studied history at University, so astoundingly underqualified, but then it’s who you know not what you know in their world. Anyway, the OBR is sold as being this independent body from government, advising it on the health of the UK economy to which end it produces reports twice a year, at the autumn statement and at the annual budget. Now before the OBR, the government made these forecasts itself on the economy, a government actually deciding stuff for itself, heaven forfend they do that, so to me it just smacks of Osborne having set up a scapegoat for himself in case anything goes wrong, because he then had somebody to blame for it. Take the 2012 omnishambles budget for example. George Osborne got it into his head to close a load of VAT loopholes, ensuring that certain products that got away with not adding VAT had to start doing so, you might remember as one example the pasty tax, I certainly do, but it was just one of several bizarre products caught up in Osborne’s VAT obsession; sports drinks, caravans, the rental of hairdresser chairs even, were other examples and why? Because the OBR forecast that by closing VAT loopholes and anomalies over the three years from 2012 the treasury could raise nearly a billion pounds. VAT is a particularly regressive tax. It’s a tax on purchases and it disproportionately hits people who spend disproportionately more of their incomes, so ordinary working class folks, rather than those with more wealth. ***Subscribe to the channel here*** https://www.youtube.com/cornishdamo?sub_confirmation=1 ►ABOUT ME: Hi, I'm Damien Willey. I'm a former welder, but now I'm a writer, blogger, vlogger and presenter and interviewer with Socialist Telly (Please do go and visit what we all get up to on https://www.youtube.com/c/SocialistTelly) I'm an unpaid carer for my disabled wife and daughter and as such we know all too well the difficulties that associated with that living in Tory Britain and I personally believe the answer lies in socialism. This channel, along with my other social media act as outlets to push back against that, to demand better of our politicians and leaders, to pull apart the media spin that supports them and the way the UK is run and to give a voice, loud as mine is, to the voiceless. ►CONTACT: Email: damien.willey@outlook.com ►SUPPORT: If you appreciate the importance of alternative media in the UK and enjoy my work please consider financially supporting it. Various options to suit all budgets, please visit linktr.ee/KernowDamo to find out more. Please support Independent Media. ►SOCIAL MEDIA LINKS Alternatively please share this video on your favourite social media & if you'd like to see what I get up to elsewhere, yoy can also find links to my presence elsewhere at linktr.ee/KernowDamo Damo Rants Kernow Damo obr,obr economy,tories economy,labour economy,obr advice,obr jeremy hunt,jeremy hunt,economic black hole,liz truss obr,rachel reeves obr,obr autumn statement,tory autumn statement,office for budget responsibility,obr economic growth,george osborne,rachel reeves,george osborne pasty tax,what is the obr,what is the office for budget responsibility,obr economic analysis,kernow damo,economy,autumn statement,obr uk finances,chancellor,obr recommendations [h_sjxaYttoA] |
| Category | News & Politics |
| Tags | obr | obr economy | tories economy | labour economy | obr advice | obr jeremy hunt | jeremy hunt | economic black hole | liz truss obr | rachel reeves obr | obr autumn statement | tory autumn statement | office for budget responsibility | obr economic growth | george osborne | rachel reeves | george osborne pasty tax | what is the obr | what is the office for budget responsibility | obr economic analysis | kernow damo | economy | autumn statement | obr uk finances | chancellor | obr recommendations |
