- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
21. After regulation 66(interpretation) insert—
66A.—(1) The country-specific multiplier for a country is the multiplier specified in the table in relation to its band.
(2) The band for a country is the band specified in the table in relation to its price level index value.
Price level index value (x) | Band | Multiplier |
---|---|---|
x<0.3 | A | 0.2 |
0.3≤x<0.5 | B | 0.4 |
0.5≤x<0.7 | C | 0.6 |
0.7≤x<0.9 | D | 0.8 |
0.9≤x<1.1 | E | 1.0 |
1.1≤x<1.3 | F | 1.2 |
x≥1.3 | G | 1.4 |
(3) The price level index value for a country is the quotient of—
(a)the price level value for the country in the most recent year available, and
(b)the price level value for the United Kingdom in the same year.
Example |
---|
0.736687 is the country’s price level value and 1.058064 is the United Kingdom’s price level value. 0.736687 divided by 1.058064 is 0.696259… (unrounded). The price level index value for the country is 0.696259…, which is Band C. The country-specific multiplier for a country in Band C is 0.6. |
(4) If the price level value for a country is not published, the Department may determine the price level value for that country by reference to a comparable country.
(5) In this regulation, “price level value” means the value published by the World Bank in its “Price level ratio of PPP conversion factor (GDP) to market exchange rate” world development indicator(1).”
66B.—(1) An example used in these Regulations—
(a)is only illustrative of the provision to which it relates, and
(b)does not limit the provision.
(2) If an example and the provision to which it relates are inconsistent, the provision prevails.”.
The world development indicator is published at https://data.worldbank.org/indicator/PA.NUS.PPPC.RF.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: