MPs on the parliamentary Treasury committee have told the government it must stop using the Retail Prices Index (RPI) for "any indexation purpose where legally possible".
The demand came after the government conceded the index, which was derecognised as a national statistic in March 2013, can be unfair on businesses and removed the link between the index and business rates multipliers. In a report responding to the Autumn Budget, the committee wrote: "The RPI is no longer a national statistic and its deficiencies are numerous. The government has acknowledged that using the statistically-flawed RPI to uprate the Business Rates multiplier is unfair on businesses. "Having acknowledged this, the government should now discontinue the use of RPI for any inde...
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