Before the Minister stands up, perhaps I could try to be helpful. This is a key question. My understanding is that the only circumstance in which RPI is lower than CPI is when mortgage interest rates are falling and that is relatively unusual, although we have experienced a bit of that recently.
When the Chancellor made his announcement about making the shift from Rossi to CPI, he was honest enough to say that it was to save money—it would save £6 billion to the Exchequer. Would it not be easier for the Minister to have the same sort of honesty as her right honourable friend in the Government and say, ““It’s to save money””?
Education Bill
Proceeding contribution from
Lord Knight of Weymouth
(Labour)
in the House of Lords on Tuesday, 4 October 2011.
It occurred during Debate on bills
and
Committee proceeding on Education Bill.
About this proceeding contribution
Reference
730 c300GC Session
2010-12Chamber / Committee
House of Lords Grand CommitteeSubjects
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