B641 - Single Inflation Rate Bill 2014 Watch

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Jarred
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B641 - Single Inflation Rate Bill 2014, The Hon. Barnetlad MP

The Single Inflation Rate Act 2014

An Act to provide for a single calculation of the rate of inflation and ensure those involved in its calculation have a recognised mathematical qualification.

BE IT ENACTED by The Queen's most Excellent Majesty, by and with the advice and consent of the Commons in this present Parliament assembled, in accordance with the provisions of the Parliament Acts 1911 and 1949, and by the authority of the same, as follows:—

1. There shall be an official measure of the changes in prices, known as the United Kingdom Index of Price Changes Covering All Trade, or UKIPCAT.
2. The UKIPCAT measure shall be the sole measure used in inflation adjustments for benefits, pensions, and increases in payments under government contracts.
3. The Office of National Statistics shall calculate the UKIPCAT figures.
4. All those involved in the calculation of the UKIPCAT figure, or working in HM Treasury in any advisory capacity on the matter, shall have to meet the minimum standard of Advanced Level in Pure Mathematics.
5. The measures known as the Consumer Price Index and the Retail Price Index may no longer be used in any official government business.
6. This Act shall take effect from 1st April 2015.

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Cryptographic
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Is this a serious bill from barnetlad? :eek:

Aye though.
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barnetlad
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(Original post by Cryptographic)
Is this a serious bill from barnetlad? :eek:

Aye though.
Yes, consistent with my 'let's be honest' thread of some proposals such as the Musical Performances Act.

It was part of my manifesto to have a single inflation rate and Treasury advisors have A levels. You never know, it might have swayed a few more voters than the pram lanes or Arsene Wenger's chair!
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PhysicsKid
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Provisionally aye, but what do you propose is included in the calculation?
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Life_peer
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Q: What's the lamest kind of cat?
A: UKIPCAT.

Cheap, I know.
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Republic1
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UKIPCAT - fantastic. Barnetlad strikes again.

Same for me, a provisional Aye but does it include house prices etc? More detail needed on what UKIPCAT will actually be measured with.
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Qwertish
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Provisional aye from me, more detail is needed on what is to be included in the UKIPCAT. I'm personally in favour of it being a 'cost of living' style thing, that includes taxes, rent, mortgage but doesn't include depreciation or house prices.

Also the CPI will still need to be maintained because its what the EU use.
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username456717
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Good one :top:

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toronto353
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I'm liking the name that's for sure.
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Baron of Sealand
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Thank you Mr Speaker.

I thank the honourable gentleman for pushing forward the bill - I think it looks good at the moment.

May I clarify with him however, if by 'minimum standard', he meant to 'pass' it.
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That Bearded Man
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#11
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(Original post by toronto353)
I'm liking the name that's for sure.
Well, it will mean that when UKIP is mentioned, everyone will assume you are talking about this bill.
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Baron of Sealand
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(Original post by That Bearded Man)
Well, it will mean that when UKIP is mentioned, everyone will assume you are talking about this bill.
Thank you the honourable gentleman for suggesting a possible scenario after the passage of the bill.

May I ask, however, if he meant the cat.

Thank you Mr Speaker.
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Escutcheon
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There's a reason that there are different inflation rates; they're used to measure very different things. RPI includes changes in the price of mortgages and so on, if you were to abolish it and chain everything currently chained to the RPI to the CPI then things like housing benefits would rise more slowly than the rise in the cost of mortgages when the CPI was below the RPI. This is really punishing to people in very vulnerable situations and not a good policy at all.
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chrisawhitmore
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(Original post by Escutcheon)
There's a reason that there are different inflation rates; they're used to measure very different things. RPI includes changes in the price of mortgages and so on, if you were to abolish it and chain everything currently chained to the RPI to the CPI then things like housing benefits would rise more slowly than the rise in the cost of mortgages when the CPI was below the RPI. This is really punishing to people in very vulnerable situations and not a good policy at all.
Housing benefit should be linked to rent, not mortgages. I'd be somewhat put out if people had a mortgage on housing benefit (unless the government ended up owning the house)
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SciFiRory
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(Original post by Republic1)
UKIPCAT - fantastic. Barnetlad strikes again.

Same for me, a provisional Aye but does it include house prices etc? More detail needed on what UKIPCAT will actually be measured with.
that was the first thing I noticed as well :laugh:

aye to this though, makes sense!
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ThisIsn'tSpam
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This proposition swings in my favour.

Therefore, I say 'aye'.
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barnetlad
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(Original post by Qwertish)
Provisional aye from me, more detail is needed on what is to be included in the UKIPCAT. I'm personally in favour of it being a 'cost of living' style thing, that includes taxes, rent, mortgage but doesn't include depreciation or house prices.

Also the CPI will still need to be maintained because its what the EU use.
In TSR land I thought we ignored EU directives if we wanted to. It would be a cost of living index, as it is intended to me for adjustments to contracts, pensions and other things relating to costs consumers face.
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nikkoch
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Aye
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Obiejess
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Aye

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wizardtop
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#20
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its a Aye from me as well
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