|Printable version||E-mail this to a friend|
Adam Smith Inst - The ONS needs urgent review
Sam Bowman Executive Director of the ASI, made the following comment, in response to a report in the Wall Street Journal which revealed that current ONS procedure needs urgent review
"Reports that markets are moving ahead of official ONS data releases in a way that is consistent with leaks and insider trading must be taken extremely seriously by the government and the ONS.
"If flaws in ONS procedures are enabling market-moving leaks to take place, allowing some individuals to profit off secret information, then something has gone badly wrong. The Cabinet Office should review ONS procedures and consider substantial reforms in light of this new evidence.
"We could follow the lead of the United States, where these suspicious market movements are seldom seen, and data is released less than 24 hours after completion and statistical reports are physically delivered to the President.
"An alternative option would be to make the process entirely open, so that the public (and the markets) can see ONS data in real-time as it is generated, and markets can price in new information immediately and openly. The ONS is already working on this, but today's findings should be an urgent call to action for them to speed up the process."
For further comment or to arrange and interview please contact firstname.lastname@example.org.
Latest News from
NLGN - A change making vision for local government25/04/2017 14:35:00
At a time of intense financial pressures and when central government’s mind is on other things, many are asking themselves where local government goes next.
CSJ - ‘Taking back control’ is not a Brexit agenda, it’s a social justice one.25/04/2017 12:35:00
June the 8th is being billed as a mandate for Brexit.
Kings Fund - Complexity of health system is 'holding back progress' in HIV care25/04/2017 10:35:00
The complexity of the health system in England is holding back progress in meeting the needs of people with HIV, according to a new report from The King’s Fund.
IEA - Arbitrarily capping prices on energy bills would be counterproductive25/04/2017 09:35:00
IEA reacts to Conservative party plans to place a cap on household energy bills
NIESR: Innovative new network will 'revolutionise' how we study the economy21/04/2017 16:15:00
After economists and traditional economic models failed to predict the financial crash of 2008, many called for a rethink on how we study macroeconomics - the branch of economics that deals with how the wider economy behaves and which is concerned with issues such as economic growth, inflation, employment and financial stability.