The Guardian view on the Office for Budget Responsibility: numbers up | Editorial

Notionally independent fiscal forecasts build in Treasury assumptions about public spending, which are worthy of the Enron school of accounting

After 58 months of blood, toil, tears and cuts, two months before the election, there are whispers that the austerity chancellor has spotted the funds for a little largesse.

The Treasury was yesterday backpedalling from unhelpfully detailed reports about George Osborne weighing specific tax cuts for next week's budget, fearful no doubt, of spoiling any surprise on the day. The chancellor is also conscious that such a late-in-the-day giveaway could confuse his campaign pose as the man for tough decisions. The question, however, is whether he will be able to resist. For with cheap petrol putting some fuel into the economy's tank, and falling inflation reducing debt-servicing costs, there is apparent scope for a fiscal loosening of, perhaps, 5bn a year.

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