asked the Minister for Industry and Commerce whether, having regard to the inadequacy for the purpose of calculating variations in the cost of living of the present system of tabulating index figures based on a basic figure related to the cost of purchasing certain goods and services in July, 1914, he will consider the appointment of a representative committee, on which traders, employers, workers and economists will be represented, to ascertain the actual cost of maintaining, for a normal family, a reasonable standard of living in present conditions.
Ceisteanna—Questions. Oral Answers. - Calculation of Cost-of-Living Index Figure.
I agree that the present index number is inadequate for the purpose of calculating variations in the cost of living. The question of the institution of a new series of index numbers is at present under consideration and an announcement will be made very shortly.
Does the Minister expect to make that announcement soon? The Minister is well aware that the index number plays a very important rôle in wages negotiations. The existing system of tabulating the index figure gives rise to considerable unrest amongst workers and trade unionists generally, where that figure is made, as it is in many cases, the basis for the fixation of wages.
The Deputy can be assured that the announcement will be made very soon.