Cost of Labour Force Survey revamp nearly doubles in a year to £40.4m

From £24.1m earlier estimate

Cristian Angeloni
clock • 2 min read

The cost of transforming the Office for National Statistics’ Labour Force Survey (LFS) has nearly doubled in a year.

According to a Freedom of Information (FOI) request published on Friday (17 January), the ONS revealed it has spent around £10.1m a year since 2021-22 to set up, develop and test the Transformed LFS, with the estimated cumulative cost reaching £40.4m across four years. Treasury Committee takes aim at ONS on labour force data The £10.1m accounts for around 2% of the agency's gross expenditure over the period. However, according to a different FOI request in March 2024, the cost for the Transformed LFS was estimated to be £8m a year, reaching a total of £24.1m between the 2021-22 fin...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Bank of England slashes interest rates by 25bps to lowest level in 18 months
UK

Bank of England slashes interest rates by 25bps to lowest level in 18 months

First MPC meeting of the year

Sorin Dojan
clock 06 February 2025 • 2 min read
Rathbones' Carl Stick: It is time to 'put up or shut up' if you want UK growth
UK

Rathbones' Carl Stick: It is time to 'put up or shut up' if you want UK growth

Many resisting change

Carl Stick
clock 06 February 2025 • 4 min read
Investors flock into US funds day after DeepSeek sell-off
UK

Investors flock into US funds day after DeepSeek sell-off

Calastone Fund Flow index

Linus Uhlig
clock 05 February 2025 • 3 min read
Trustpilot