This article from the Scotsman highlights the difference of opinion between the Bank of England and the Treasury on what we can expect from the economy over the next year. The Bank, which is (at least in theory) independent from the goverment, claims economic growth will slow to 1.5% for 2009, while the Treasury says we can expect anywhere between 2.25% and 2.75% for the same period.
More proof, as if it were ever needed, that the people who are supposed be in control of the economy have no more insight than the rest of us when it comes to figuring out what the future holds. You’d imagine the Bank and the Treasury would have access to all the same economic data and models, so how can they come to such different conclusions?
