ALLSOPP REVIEW – FINAL REPORT PUBLISHED

Christopher Allsopp today published the second and final report of his independent review of the informational and statistical requirements for monetary and wider economic policymaking.

The report, ‘Review of Statistics for Economic Policymaking - Final Report to the Chancellor of the Exchequer, the Governor of the Bank of England and the National Statistician’, makes over 60 recommendations aimed at improving national and regional statistics.

Announcing these, Mr Allsopp said:

“Good economic policy requires a high quality statistical system. The overall aim of my Review was to look at how we can move towards a coherent, balanced and integrated statistical system, that can respond effectively to a changing environment.”

“My two Reports examine the consequences of two of the most prominent changes in demand for economic statistics: the growing demand for regional data, and the increasing importance of the service sector in the economy. The Final Report sets out an ambitious agenda, both to meet these demands and for UK statistical services more generally, building on the modernisation programme already underway in the Office for National Statistics”.

The Final Report focuses mainly on the question of whether the changing economic structure of the UK is being properly reflected in the nature, frequency and timeliness of official economic statistics. It also revisits the regional and institutional recommendations from the First Report, in the light of comments received during the consultation exercise. The Review Team is grateful to all those who submitted views.

The principal outcomes from implementing the recommendations of the review would provide policymakers with:

good quality baseline Gross Value Added estimates for the twelve regions and countries of the UK, and improved detail at lower levels, as part of an integrated system producing both National and Regional Accounts;
a statistical system that is not skewed towards particular sectors of the economy, that reflects the contribution and nature of different economic sectors, and that evolves alongside future change in the economy;
a coherent and efficient suite of surveys, sample frames and estimation procedures, based on sound statistical principles, that reflects the balance of the economy and delivers reliable results at acceptable compliance cost;
a range of information held by government that can be used to increase the quality and the compliance efficiency of economic statistics, while safeguarding its confidentiality; and
good links between the centre, Office of National Statistics (ONS) and Government Statistical Services (GSS) statisticians located in the regions and devolved administrations and regional bodies, with greater comparability of those micro-regional data that are not collected centrally.

NOTES FOR EDITORS

1. The Chancellor of the Exchequer asked Christopher Allsopp to undertake a review of the statistical requirements for monetary and wider economic policymaking on 27 February 2003 (HMT press release 29/03).

2. The interim and final reviews respond to the Chancellor’s request that Chris Allsopp:
"deliver an assessment to the Chancellor, the Governor of the Bank of England and the National Statistician, with a first report by the 2003 Pre-Budget Report, on the following:
- the regional information and statistical framework needed to support the Government’s key objective of promoting economic growth in all regions and reducing the persistent gap in growth rates between the regions;
- whether the changing economic structure of the UK is being properly reflected in the nature, frequency and timeliness of official economic statistics.”

3. Chris Allsopp’s Final Report, ‘Review of Statistics for Economic Policymaking - Final Report to the Chancellor of the Exchequer, the Governor of the Bank of England and the National Statistician’, is accessible on this website. Printed copies are available from the Treasury Public Enquiry Unit on 020 7270 4558.

4. The Final Report considers in detail whether official statistics properly reflect the changing economic structure of the UK, and makes further recommendations to improve the to improve the coverage and quality of the economic statistics. It also revisits the regional and institutional recommendations from the First Report, which was published on 10 December 2003, in the light of responses received from the consultation exercise.

5. Media enquiries should be addressed to Charles Keseru in the Treasury press office on 020 7270 5188.

6. Non-media enquiries should be addressed to Michael Williams in the Allsopp Review Team on 020 7270 5214.

June 2004 index