With that mechanism there may need to be some allowance for years when the calculated increase was 0%, which might happen if earnings and prices increased rapidly but in different years. It shouldn't be insurmountable though. 11/

Finally the charts from earlier in the thread are from an excellent briefing paper in the House of Commons Library, which I recommend for anyone wanting to delve deeper into the subject. 12/12 researchbriefings.files.parliament.uk/documents/CB...