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rate support grant (H7)<br />An expenditure subsidy previously paid by the UK government to local authorities which resulted in less having to be raised by rates (local property tax). This grant on average was equal to about one-half of total local government expenditure. Central government, in order to ensure that minimum standards of services, e.g. in education, are maintained, has to provide this subsidy. After the domestic rates were replaced by the COMMUNITY CHARGE, the rate support grant was replaced by a REVENUE SUPPORT GRANT.
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penny share (G1)<br />A share in a UK company worth less than 50p. The potential for capital growth is considerable for many of these securities.<br /><em>See also:</em> heavy share
<strong>DE</strong> – U.S. Department of Education, which may also be referred to as ED, USDE, or simply the Department.
cost of living index (J3)<br />Now termed in the UK the RETAI L PRICE INDEX. It shows changes in the cost of purchasing a bundle of goods and services representative of the average consumer. The Ministry of Labour and now its successor, the Department for Education and Employment, had to maintain this index as it is of crucial importance to wage bargaining.<br /><em>See also:</em> consumer price index
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