§ Lord Kennet
asked Her Majesty's Government:
What steps they are taking to ensure that all economically and socially significant work is taken into account in national and international policy-making and in the measurement of national and international growth. [HL1434]
§ Lord McIntosh of Haringey
The Government's policy is to encourage a fair society in which everyone can share in broader opportunities, and to see economic development taking place in a way which respects the environment. Every effort is made to take into account the value of all economically and socially significant work. For example, a number of measures were taken 209WA in the Budget to assist parents with the cost of bringing up children.
The measurement of economic growth is covered by the internationally agreed System of National Accounts (SNA). The 1993 SNA proposed that more work be undertaken in satellite accounts, developing measurement of activities excluded from conventional accounts. The Office for National Statistics is at the forefront in developing a wide range of satellite accounts, including unpaid household work and environmental accounts. Articles describing the latest developments were published in the October 1997 edition of Economic Trends.