HC Deb 12 February 1963 vol 671 c1099
10. Dr. Bray

asked the Chancellor of the Exchequer whether, in view of the increased public interest and understanding of the difficulties and importance of economic forecasting, he will publish a full description of the short-term economic forecasting methods now used by the Treasury, together with a comparison of forecasts and the out-turn of events in recent years, similar to the assessment of forecasts published by the National Institute of Economic and Social Research in May, 1961, a copy of which has been sent to him.

Mr. Maudling

A study of economic forecasting methods in member countries is now being undertaken by the Organisation for Economic Co-operation and Development and I will consider in this context the desirability of publishing a general description of the methods adopted in this country. As regards the second part of the Question, I have nothing to add to the Answer given to the hon. Member on 2nd August, 1962.

Dr. Bray

Is the Chancellor of the Exchequer aware that there would be very widespread interest in the publication of the full contribution made by the Treasury to the O.E.C.D. discussion as well as in any O.E.C.D. report which is finally produced?

Mr. Maudling

I will certainly bear that in mind. This is the sort of work in which the O.E.C.D. does some very useful things indeed.