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registered interest false more like this
date less than 2020-11-30more like thismore than 2020-11-30
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Pensions: Uprating remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that people entering into new index-linked deals are made aware of the proposed changes to the formula for calculating the Retail Price Index, set out in his Department's response to the Consultation on the Reform of RPI Methodology. more like this
tabling member constituency Carmarthen East and Dinefwr more like this
tabling member printed
Jonathan Edwards more like this
uin 122662 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-12-03more like thismore than 2020-12-03
answer text <p>On 25 November, the Government and UK Statistics Authority (UKSA) published their response to the consultation on the timing of reform to the Retail Prices Index (RPI). Owing to shortcomings in its calculation, UKSA intends to bring the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI.</p><p> </p><p>The Government and UKSA engaged directly with a number of users and stakeholders to discuss the consultation. The consultation response document has been published and is available on the Government and UKSA’s websites, as below:</p><p>- <a href="https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology" target="_blank">https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology</a></p><p>- <a href="https://uksa.statisticsauthority.gov.uk/news/response-to-the-joint-consultation-on-reforming-the-methodology-of-the-retail-prices-index/" target="_blank">https://uksa.statisticsauthority.gov.uk/news/response-to-the-joint-consultation-on-reforming-the-methodology-of-the-retail-prices-index/</a></p><p> </p><p>Under legislation, how RPI is changed is a matter for UKSA alone. This reflects the important principle established in the Act that UKSA’s judgement on statistics should be independent of Government. After expert advice from the National Statistician and following public consultation, UKSA intends to address the shortcomings in RPI by bringing in the methods and data sources of CPIH. This intended approach was made public in September 2019. Following consultation, UKSA confirmed publicly that the change proposed can legally and practically be made by UKSA in February 2030. It is the role of UKSA – as set out in legislation - to promote and safeguard official statistics.</p>
answering member constituency Salisbury more like this
answering member printed John Glen more like this
question first answered
less than 2020-12-03T15:24:16.273Zmore like thismore than 2020-12-03T15:24:16.273Z
answering member
4051
label Biography information for John Glen more like this
tabling member
3943
label Biography information for Jonathan Edwards more like this