The Office for Budget Responsibility and the Politics of Technocratic Economic Governance

The Office for Budget Responsibility (OBR) and the Politics of Technocratic Economic Governance explores the politics of economic ideas and technocratic economic governance, focusing on the creation and operation of the OBR in the UK. It analyzes the politics of economic management in the UK's uncertain trajectory, including Brexit and COVID, and the competing constructions of economic reason that underpin models of British capitalism.

Format: Hardback
Length: 304 pages
Publication date: 14 March 2023
Publisher: Oxford University Press

The Office for Budget Responsibility (OBR) and the Politics of Technocratic Economic Governance delve into the intricate interplay between economic ideas and the implementation of technocratic economic governance. This comprehensive book explores not only the politics of economic ideas but also the evolving political economy of British capitalism's relationship with the European and broader global economies. It specifically focuses on the establishment and operation of the independent body, the Office for Budget Responsibility (OBR), which was created in 2010 to oversee fiscal rectitude in the United Kingdom.

Moreover, the book delves into the politics of economic management in the UK, particularly in navigating the uncertain trajectory and restructuring of British capitalism in the aftermath of the global financial crisis (GFC), Brexit, and COVID-19. It examines the complex interplay between expert economic opinion provided by the OBR as the country's fiscal watchdog and the broader political economy of British capitalism's evolution.

A central theme of the book is the examination of the intersection between expert economic opinion and the political economy of British capitalism's development, particularly in the context of Brexit. It challenges the technocratic vision of independent fiscal councils, highlighting that economic knowledge and narratives are political and social constructs. The book unpacks the competing constructions of economic reason that underpin models of British capitalism and informs the expert economic assessment of the UK economy. It also underscores how contestable political economic assumptions shape visions of Britain's international economic relations, which were prominently debated in economic policy discussions during the 2010s, particularly in the aftermath of Brexit.

In analyzing OBR forecasting and fiscal oversight within this broader political context, the book goes beyond a narrow technical pursuit. It seeks to understand the broader implications and consequences of economic policy decisions on the lives of individuals and communities. By examining the political economy of technocratic economic governance, the book provides valuable insights into the complex dynamics shaping economic policy and governance in the UK and beyond.

Weight: 602g
Dimension: 244 x 161 x 28 (mm)
ISBN-13: 9780192871121