Treasury written question – answered at on 13 December 2004.
To ask the Chancellor of the Exchequer what discussions he has had with (a) the Office for National Statistics and (b) the Department of Trade and Industry in relation to the calculation of the Treasury's measurement of an underlying trend rate of productivity growth on an output per hour worked basis.
In assessing the underlying trend rate of productivity growth, on an output per hour worked basis, the Treasury uses data sourced from the Office for National Statistics (ONS) on real non-oil output (Gross Value Added) and total actual weekly hours worked (from the Labour Force Survey). The Treasury shares a joint Public Service Agreement Target with the Department of Trade and Industry (DTI) on increasing the productivity of the economy. So Treasury officials have regular discussions with ONS officials on data issues and with DTI officials on measuring progress on the joint target. The latest numbers are available in Table A2 of the 2004 pre-Budget report (p. 169).
Yes1 person thinks so
No0 people think not
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