Mea culpa

I am not, it transpires, infallible. This week, I made a mistake. On Monday, I published a blog post about the IEA's economic modelling.

I am not writing this because of any lawyerly letters. And I am certainly no convert to their maths, but rather than arguing about corrections to an article, I have asked the BBC to withdraw it.

The IEA made some fair points in their reply to me. While I still think their model is fundamentally flawed, I tripped over my own feet when making my case in the article.

Their model, for example, has an endogeneity problem, but not where I said. Part of the original article was about my inability to replicate their maths, which was my own fault.

The IEA, I declared, needed to do more homework. That's still true.

But so did I.

Mea culpa.