The independent Office for Budget Responsibility (OBR) is responsible for producing forecasts for the UK economy and public finances. It publishes regular Forecast Evaluation Reports (FERs) in which it compares its forecasts to subsequent outturns and explains any forecast errors.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2016-10-25", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2016-10-25T16:17:53.687Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2016-10-18", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Economic Situation: Forecasts"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government whether they (1) have confidence in the economic forecasting capability of HM Treasury, (2) have evaluated the performance of HM Treasury forecasters, and (3) have considered the case for outsourcing some or all of HM Treasury's forecasting functions to another organisation.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL2429"} , {"_about" : "http://data.parliament.uk/resources/603970", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/603970/answer", "answerText" : {"_value" : "
A comprehensive Review of the Monetary Policy Framework was published in 2013. The current remit for the Monetary Policy Committee reflects the assessment set out in the 2013 Review, which includes retaining a flexible inflation targeting framework, with a 2 per cent symmetric inflation target. The remit also states that the MPC may allow inflation to deviate from this target temporarily in order not to cause undesirable volatility in output due to the short-term trade-offs involved.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"} } , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"} , "dateOfAnswer" : {"_value" : "2016-10-31", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2016-10-31T15:30:20.077Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "CaTreasury"} , "date" : {"_value" : "2016-10-17", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Inflation"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government whether they will explain the basis on which the inflation target for the Bank of England\u2019s Monetary Policy Committee is set; and the circumstances in which that figure would be raised above two per cent.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL2366"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 2, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }