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By Martin Kelly
A Scottish academic has criticised the forecasting record of the economics profession and specifically highlighted the poor record of the Office of Budget Responsibility.
Professor David Bell of Stirling University said: "The forecasting record of the economics profession in general is not good. The same can be said specifically about the forecasting record of the OBR. We need to guard against seeing a forecasting body as a panacea for the uncertainties surrounding public finances."