It is asking for views on: the outstanding challenges in measuring the modern economy; whether there are features of the modern economy that are not well captured in the present range of UK statistics; what the top statistical priorities should be. Submissions need to be filed by 25 September.
Sir Charles Bean, a professor of economics at the London School of Economics and a former deputy governor for monetary policy at the Bank of England, is leading the review.
His interim recommendations will be presented to Chancellor George Osborne this autumn before a final report at the time of the 2016 Budget.
Bean said: “The UK has a long history of producing credible and high-quality statistics, but we cannot afford to be complacent.
“My review will seek to ensure that the UK’s economic statistics, together with the processes for their production, are future-proofed and suited to the challenges posed by a dynamic economy.”
The review is looking at whether the range of statistics published remains relevant to the economy, the application of ‘big data’ techniques to their collection and dissemination and the governance arrangements needed to support their production, focused mainly on the Office for National Statistics.
The ONS has come under fire recently over the quality of some of the statistics it has produced.
