A group of Government MPs have signed a letter to the Chancellor of the Exchequer which is fiercely critical of the role that the Office for Budget Responsibility plays in forecasting the economy, which has played a significant role in shaping Government policy.Even if the forecasts for 2019 and 2020 are removed, given the unforeseen circumstances around the COVID-19 pandemic, the Way Forward Group estimates that the OBR has made forecasting errors which have totalled more than £120 billion.Jeremy Hunt is under pressure to consider scrapping the Think Tank, which was set up by George Osborn to provide a central source of “scoring” for the effect of policy on the economy.Former Home Secretary Suella Braverman gave an example of the flaws in the OBR’s forecasts recently when she spoke of the positive effect of migration policy noted in the data, but it doesn’t include the effect of such policies on education and health, two areas where the Government, based upon the OBR’s figures have been accused of underinvestment.The forecasts for public sector borrowing have also been “wildly inaccurate” which has led to discrepancies in the amount of investment the Government can make in public services.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.