Tender Price Index - Public forum - Planning Advisory Service (PAS)
Tender Price Index
Hi
Has anybody else noticed that even when the All In Tender Price Index changes from forecast to a usable index figure it still fluctuates for a further six months. I ask the question because we are having trouble deciding on a fixed point from which to calculate CIL contributions. We are trying to use Q4 figures from the previous Nov but have to keep changing the amount payable on liability notices.
Any thoughts would be helpful.
Moira White, modified 9 Years ago.
RE: Tender Price Index
Enthusiast Posts: 26 Join Date: 20/10/11 Recent PostsI have just received an email from BICS regarding changes to their indices (copy attached). I guess other CIL authorities have received the same.
My question to Forum members is do we now need to index our chargeable amounts to the retail prices index Reg 40 (6) (b) or can we use the new Public Sector Price and Cost Indices which is being promoted by BCIS. We clearly have a limited time in which to resolve this as we need to publish the index we are going to be using for Liability Notices that will be issued from January 2015.
Changes to your BIS Construction Cost and Price Indices Online Subscription from BCIS
Recent methodology changes to the BIS deflators will result in the discontinuation of several BIS Resource Cost and Tender Price indices from December 2014. BCIS has committed to its users that we will, where possible, continue to calculate and publish comparable indices. Although not official BIS indices, in general the comparable indices will use the same data and calculation methodology as the current indices in use by the industry. As users of the indices we would advise you to check any contractual issues resulting in a change of index name.
Please be aware that the calculation of the indices is no-longer funded by BIS, and, as a result, we will need to ensure the commercial viability of the service. BCIS will continue to produce the indices providing there is sufficient demand from subscribers.
The service will no longer be known as the BIS Construction Cost and Price Indices Online and will now be known as Public Sector Price and Cost Indices. The service will include the new BIS input and output indices when available.
If you have any questions or need of advice, please do not hesitate to contact us by phone;
+44 (0)24 7686 8555 or contact@bcis.co.uk.
Our team at BCIS can offer specialist advice that will guide you on the most suitable indices to meet your requirements. We can advise on bespoke indices and inflation forecasts which can help you mitigate inflationary risks. More details on the equivalent indices provided and how to obtain them are provided at http://news.rics.org/re?l=D0I3bqymmIzdlbjiI0
Hi Moira
If you check the BCIS webpage, it identifies the indices that are being discontinued or amended. The All-in Tender Price Index is not affected by the changes, so as far as CIL is concerned there would be no change to the index used, as far as I can see.
Hope this helps
Jim