Economic forecasts

Given the Scottish National party’s imperious poll ratings it easy to conclude that, despite the Yes side’s defeat in last year’s referendum, independence is inevitable.

But the release on Wednesday of annual fiscal figures from the Scottish Government suggest that, at least when it comes to the economic case for independence, 2014 was an unusually good year for nationalists, one that may not repeat itself anytime soon. Read more

The Office of Budget Responsibility faces a big credibility test today. Chris Giles, the FT’s economics editor, has an agenda-setting story that raises doubts over its very purpose and independence. It is far more significant than any speculation over Sir Alan Budd’s departure.

Through persistent questioning, Chris uncovered that the OBR tweaked its Budget forecasts at the last-minute to erase around 175,000 public sector job losses by 2014/15. Read more