Productivity Growth, Not Reliance on Immigration, Will Reduce UK Debt: OBR Official

The key to Britain’s fiscal sustainability is productivity growth, not reliance on immigration to boost the labour force, an executive member of the Office for Budget Responsibility (OBR) has said. David Miles, who sits on the OBR’s Budget Responsibility Committee, wrote on Feb.1 to the Lord’s Economic Affairs Committee with his evaluation of the UK’s debt issues. His comments were submitted to the government’s new inquiry on the sustainability of the UK’s national debt. The Economic Affairs Committee believes that it’s “unclear” whether the government’s fiscal rule in relation to national debt is “fit for purpose.”...