IMF and OECD invited to give evidence on UK economic forecasting ahead of Spring budget
9 February 2024
The Treasury Committee has invited economists from the International Monetary Fund (IMF) and Organisation for Economic Co-operation and Development (OECD) to give evidence regarding their recent economic forecasts for the UK economy.
Both organisations have published assessments of the UK’s economic outlook in recent weeks, making predictions on issues such as inflation, expected levels of growth and productivity.
The IMF published its World Economic Outlook in January 2024, while the OECD gave its own view earlier this week – as part of the organisation’s interim report published on Monday 5 February.
Chair of the Treasury Committee, Harriett Baldwin, said:
“In the run up to the March 6th budget the Treasury Committee is keen to hear from these leading international institutions so that Committee members can ask them about their assumptions and their recommendations in one of our public hearings.
“Both the IMF and OECD have published assessments of the UK’s economic outlook in recent weeks. With the Chancellor set to make hugely important decisions regarding the future direction of the UK economy, I think it’s only right that officials from both organisations accept our invitation and share the thinking behind their forecasts.”
Image credit: UK Parliament/Tyler Allicock