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Amendment of the Law

Part of the debate – in the House of Commons at 3:51 pm on 24th March 2011.

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Photo of Mark Field Mark Field Conservative, Cities of London and Westminster 3:51 pm, 24th March 2011

Does my hon. Friend also recognise the massive distinction, in the context of forecasts on growth and throughout the economic sphere, between what happened before the election and what has happened since May 2010? In the past the Chancellor of the Exchequer made the forecasts in his own interests. We have instituted the independent Office for Budget Responsibility, and it is a sign of the robustness of its independence that it has issued the downgrades in the forecasts to reflect changing circumstances.