asked the Minister for Industry and Commerce whether in calculating the cost of living figure for the present period consideration has been given to the recent large percentage of increase, in some cases as much as 22 per cent., due to additional taxation lately imposed on the chief foodstuffs of the working classes, including the lower grades of the Civil Service; and, if not, whether he will take steps to have the increased prices of those commodities taken into consideration before the index figure is calculated for the purpose of arriving at the cost of living bonus for the ensuing six months.
Ceisteanna—Questions. Oral Answers. - Cost of Living Figure.
The quarterly cost of living inquiries refer to the Monday nearest to the middle of the months of February, May, August, and November. The precise date of the most recent inquiry was 13th May. Accordingly, any increases in retail prices which may have resulted from the Budget could not have had effect at the last inquiry.
The figure on which bonus is paid in each half year represents the multiple of five next above the average of the two cost of living index numbers in the preceding half year, unless the average is itself a multiple of five when the bonus figure is taken at this average. It is estimated that if the Budget duties on sugar, tea and tobacco had had their full effect on retail prices on the 13th May, the resulting increase in the cost of living index number for mid-May would not have been sufficient to affect the bonus payable during the last half of this year.
Would the Minister say what the figure is for the mid-May quarter?
It will be published to-day.