1-20 of 207 results for subject:Inflation
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Analysis of the latest UK and international economic indicators
Analysis of the latest UK and international economic indicators
The fundamentals of the UK economy are strong, and the public finances have been repaired. Government action has supported the British people with the cost of living. Poverty and inequality have been reduced – ensuring everyone can benefit from the UK’s economic success. Investment has increased – promoting productivity, creating...
The fundamentals of the UK economy are strong, and the public finances have been repaired. Government action has supported the British people with the cost of living. Poverty and inequality have been reduced – ensuring everyone can benefit from the UK’s economic success. Investment has increased – promoting productivity, creating...
My right honourable friend the Chancellor of the Exchequer (Sajid Javid) has today made the following Written Ministerial Statement.
The fundamentals of the UK economy are strong, and the public finances have been repaired. Government action has supported the British people with the cost of living. Poverty and inequality have been...
My right honourable friend the Chancellor of the Exchequer (Sajid Javid) has today made the following Written Ministerial Statement.
The fundamentals of the UK economy are strong, and the public finances have been repaired. Government action has supported the British people with the cost of living. Poverty and inequality have been...
To ask the Chancellor of the Duchy of Lancaster, and Minister for the Cabinet Office, for what reasons the civil service pay increase, announced in June 2019 is not in line with inflation.
To ask the Chancellor of the Duchy of Lancaster, and Minister for the Cabinet Office, for what reasons the civil service pay increase, announced in June 2019 is not in line with inflation.
Civil service pay, excluding the Senior Civil Service, is delegated to departments and to the Devolved Administrations.
For 2019/20, government departments have flexibility to make average pay settlements of up to 2%, depending on their workforce requirements and affordability. Any department wishing to pay an award above 2% is able to submit a business case to HM Treasury and Cabinet Office for ministerial approval. Departments are also able to meet the costs of increases to the National Living Wage outside of the 2%.
MPs’ pay is set by the Independent Parliamentary Standards Authority, which is independent from government.
To ask the Chancellor of the Exchequer, what comparative assessment he has made of rates of wage growth and inflation.
To ask the Chancellor of the Exchequer, what comparative assessment he has made of rates of wage growth and inflation.
The fundamentals of the British economy are strong – wages are growing at the fastest rate in over a decade, employment is at a joint record high and the unemployment rate is at its lowest in over 40 years. Inflation has been at or around target since the start of 2019, and as a result wages have now outpaced inflation on a CPI basis for over a year.
On 1 April 2019, we increased the National Living Wage by 4.9% to £8.21 - an above inflation increase which meant that a full-time worker on the National Living Wage would be earning £690 more over the coming year. Supported by the National Living Wage, the lowest earners have seen their wages grow by 8% above inflation between April 2015 and April 2018.
Analysis of the latest UK and international economic indicators
Analysis of the latest UK and international economic indicators
To ask the Chancellor of the Exchequer, what estimate he has made of the potential effect on inflation of the UK leaving the EU without a deal.
To ask the Chancellor of the Exchequer, what estimate he has made of the potential effect on inflation of the UK leaving the EU without a deal.
Short-term forecasting is undertaken by the Office for Budget Responsibility in line with its statutory duty. In line with its remit, the OBR’s forecasts include the economic and fiscal impact of government policy on EU exit where the effects can be quantified with reasonable accuracy. The OBR has said that it will adjust its Brexit assumptions when more detail is available on the future trade and migration relationship between the UK and EU.
To ask the Chancellor of the Exchequer, what effect the process of the UK leaving the EU had on (a) GDP growth, (b) inflation and (c) foreign direct investment between 23 June 2016 and 23 July 2019.
To ask the Chancellor of the Exchequer, what effect the process of the UK leaving the EU had on (a) GDP growth, (b) inflation and (c) foreign direct investment between 23 June 2016 and 23 July 2019.
The fundamentals of our economy are strong: wages are growing, employment is at a record high and the unemployment rate is at a historic low. The economy has grown every year since 2010 and the IMF forecast that it will grow faster than Germany, Italy and Japan this year, and as fast as France.
It is vital that we bring certainty and that's why we must leave on 31 October under any circumstances.
To ask the Chancellor of the Exchequer, what comparative forecast the Government has made of (a) GDP, (b) inflation, (c) foreign direct investment and (d) the UK's balance of trade for the next five years in scenarios in which (i) the UK does not leave the EU, (ii) the UK...
To ask the Chancellor of the Exchequer, what comparative forecast the Government has made of (a) GDP, (b) inflation, (c) foreign direct investment and (d) the UK's balance of trade for the next five years in scenarios in which (i) the UK does not leave the EU, (ii) the UK...
HM Treasury does not produce economic forecasts. The independent Office for Budget Responsibility (OBR) is responsible for producing forecasts for the UK economy and public finances. In line with its remit, the OBR’s forecasts include the economic and fiscal impact of government policy on EU exit where the effects can be quantified with reasonable accuracy. The OBR has said that it will adjust its Brexit assumptions when more detail is available on the future trade and migration relationship between the UK and EU.
To ask the Secretary of State for Transport, what inflationary measure his Department has specified in the new (a) East Midlands Trains and (b) West Coast Partnership franchises for the duration of those contracts.
To ask the Secretary of State for Transport, what inflationary measure his Department has specified in the new (a) East Midlands Trains and (b) West Coast Partnership franchises for the duration of those contracts.
The Retail Prices Index (RPI) inflationary measure has been used for Annual Franchise Payments in both East Midlands Railway and West Coast Partnership franchises. This follows well-established rail industry practice which uses the RPI as the basis for franchise payment indexation, and for constraining annual increases to regulated passenger fares.
The franchise payment allows for indexation of staff costs by RPI. However, in the last 12 months of the franchise the Average Weekly Earnings (AWE) measure maybe used where a variation is proposed to the franchise employees’ terms and conditions.
The contracts also recognise that certain Network Rail charges are indexed by the Consumer Prices Index in Control Period 6.
Analysis of the latest UK and international economic indicators
Analysis of the latest UK and international economic indicators
Analysis of the latest UK and international economic indicators
Analysis of the latest UK and international economic indicators
To ask the Secretary of State for Defence, what the effect of RPI inflation has been on the value of the pay of civilian seafarers in the Royal Fleet Auxiliary since 2008-09.
To ask the Secretary of State for Defence, what the effect of RPI inflation has been on the value of the pay of civilian seafarers in the Royal Fleet Auxiliary since 2008-09.
This information is not held by the Department. As Ministry of Defence Civil Servants, the pay of members of the Royal Fleet Auxiliary is governed by HM Treasury Public Sector Pay Guidance.
My Lords, I can see by the size of the exodus from the Chamber that many may regard this as a dry, technical report, but it is in fact a revealing tale of how complacency on the part of the statistics authorities and opportunism on the part of Governments have...
My Lords, I can see by the size of the exodus from the Chamber that many may regard this as a dry, technical report, but it is in fact a revealing tale of how complacency on the part of the statistics authorities and opportunism on the part of Governments have...
My Lords, we live in strange political times. I find myself in complete agreement with everything that the noble Lord, Lord Forsyth, said. I think that I speak for the rest of the Economic Affairs Committee in acknowledging his skill as a conciliator—the House will be very familiar with that—which...
My Lords, we live in strange political times. I find myself in complete agreement with everything that the noble Lord, Lord Forsyth, said. I think that I speak for the rest of the Economic Affairs Committee in acknowledging his skill as a conciliator—the House will be very familiar with that—which...
My Lords, my noble friend Lord Forsyth has achieved a notable success in making statistics both interesting and controversial. Normally there is nothing so dry as statistics, but he has demonstrated by his speech, the committee by its report and the noble Lord, Lord Darling, by his speech that statistics...
My Lords, my noble friend Lord Forsyth has achieved a notable success in making statistics both interesting and controversial. Normally there is nothing so dry as statistics, but he has demonstrated by his speech, the committee by its report and the noble Lord, Lord Darling, by his speech that statistics...