The Office for Budget Responsibility cut its growth forecast for this year back to 1.5 per cent GARETH FULLER/PAThe Office for Budget Responsibility’s drastic change of heart on productivity growth comes after years of being too optimistic about future efficiency improvements in the British workplace. Year after year, the fiscal watchdog has expected productivity to revert to its pre-crisis growth level. Year after year, it has been disappointed. Simon French, chief economist at Panmure Gordon, said: “This is a major capitulation from the OBR. Brexiteers attacked it in November last year when it…

Source: The Times November 23, 2017 00:03 UTC