Regulation 26 Amendments to Schedule 1 (aggregate non-core spending obligation)

after paragraph 3(c)(v) insert—

“(vi)

£340 million for scheme year 8;

(vii)

for scheme year 9, £340 million increased or, as the case may be, decreased by the percentage increase or decrease in the consumer prices index over the 9 month period ending with 31st December 2018 (the resulting figure being rounded to the nearest million pounds sterling, with half a million being rounded upwards);

(viii)

for scheme year 10, £340 million increased or, as the case may be, decreased by the percentage increase or decrease in the consumer prices index over the 21 month period ending with 31st December 2019 (the resulting figure being rounded to the nearest million pounds sterling, with half a million being rounded upwards).”;

in paragraph 4, for “2 to 7” substitute “2 to 10”;

in paragraph 7, for “3 to 7” substitute “3 to 10”;

in paragraph 10, before the definition of “year t-1” insert—

• ““consumer prices index” means—

  1. (a)

     the consumer prices index (CPI) published by the Office for National Statistics, or

  2. (b)

     where the index is not published for a month, any substituted index or figures published by the Office for National Statistics;”.