1. What is the 1.5% Increase Calculator?

This calculator computes a 1.5% increase on an original value, which is commonly used in UK government contexts for adjustments to payments, benefits, or allowances.

2. How Does the Calculator Work?

The calculator uses the following simple formula:

Where:

• Old Value — The original amount in GBP
• 1.015 — The multiplier for a 1.5% increase (1 + 1.5/100)

Explanation: The calculation adds 1.5% to the original value by multiplying by 1.015.

3. Importance of 1.5% Increase Calculation

Details: This calculation is particularly important for UK government departments when adjusting statutory payments, benefits, or allowances by the standard 1.5% increase rate.

4. Using the Calculator

Tips: Simply enter the original value in GBP and the calculator will automatically compute the new value after a 1.5% increase.

5. Frequently Asked Questions (FAQ)

Q1: Why is 1.5% commonly used in UK government calculations?
A: 1.5% is often used as a standard adjustment rate for inflation or cost-of-living increases in government payments and benefits.

Q2: How is this different from compound increases?
A: This calculates a single 1.5% increase. For compound increases over multiple years, each year's increase would be calculated on the new amount.

Q3: Can this calculator be used for decreases?
A: No, this specifically calculates increases. For decreases, you would need to multiply by (1 - percentage/100).

Q4: Is the result rounded to specific decimal places?
A: The calculator rounds to 2 decimal places (pence) as is standard for GBP calculations.

Q5: Can I use this for non-UK government purposes?
A: Yes, the calculation works for any context where you need to apply a 1.5% increase, though it's specifically designed for UK government use cases.