A group of Labour MPs has told Rachel Reeves to stop relying so heavily on the Office for Budget Responsibility (OBR) because its forecasts are not a "crystal ball."
The chancellor is under pressure to reduce the influence of forecasts from the fiscal watchdog over tax and spend decisions.
More than 40 Labour MPs has backed calls to "adjust the way we report and respond to forecasts" and to "stop treating single-point estimates as gospel."
The MPs also backed calls to cut the OBR forecasts from two to one a year.
Andy MacNae, MP for Rossendale & Darwen in Lancashire, said the OBR provided only a “rough guide” as to where the economy might be in four years. “But the OBR has never claimed to have a crystal ball and we shouldn’t treat it as if it does,” he said.
Read the full story in The Times.