Chancellor George Osborne approves Sir Charlie Bean's shake up of UK economic statistics

The overhaul is aimed at modernising the way
the UK collects and manages statistics (Source: Getty)

From City AM

An overhaul of the way the UK collects and manages its economics data has been approved by the Treasury.

Plans for an Economics Centre of Excellence and Data Science Campus at the Office for National Statistics (ONS) have been announced as part of the budget. Around £17m of investment will support the initiatives at headquarters of the ONS in Newport in South Wales over the next two years, the ONS said today.

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