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Gross Domestic Product

House of Lords written question – answered on 3rd February 2011.

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Photo of Lord Taylor of Warwick Lord Taylor of Warwick Non-affiliated

To ask Her Majesty's Government what assessment they have made of the effect of last quarter's gross domestic product figures on poorer families.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

The 2010 Q4 gross domestic product (GDP) figures as released by the Office for National Statistics (ONS) on 25 January are a first estimate and are calculated with 42 per cent of outturn data.

The Government's measures of poverty are income-based. As the ONS GDP estimates are based on output, it is not possible to draw a direct correlation between GDP data and family incomes.

The Government are committed to ending child poverty by 2020 and published a consultation on their child poverty strategy in December 2010. They will publish their child poverty strategy in spring 2011.

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