Summary
Merged PR #292 added property_wealth as a fourth ONS land calibration target, using the same aggregate value as total land. That target is conceptually incorrect and should be removed.
Problem
property_wealth is not an ONS land-value target. In policyengine-uk, it represents total property wealth, while the ONS National Balance Sheet figure used in #292 is a land-value aggregate. Routing ons/property_wealth through the land-target computation conflates two different concepts and weakens the calibration loss.
Specifically, #292 currently:
- defines
ons/property_wealth in policyengine_uk_data/targets/sources/ons_land_values.py
- routes
ons/property_wealth through compute_land_value() in policyengine_uk_data/targets/build_loss_matrix.py
- treats
property_wealth as if it should match the ONS land total in policyengine_uk_data/tests/test_land_value_targets.py
Expected fix
- remove
ons/property_wealth from the ONS land target source
- stop dispatching
ons/property_wealth through the land target computation
- keep the real land targets:
household_land_value, corporate_land_value, and land_value
- keep
household_land_value <= property_wealth as an invariant test, but not as an ONS calibration target
Notes
This is separate from #295. Even if land targets still fail to converge after recalibration, property_wealth should not be included as a land target.
Summary
Merged PR #292 added
property_wealthas a fourth ONS land calibration target, using the same aggregate value as total land. That target is conceptually incorrect and should be removed.Problem
property_wealthis not an ONS land-value target. Inpolicyengine-uk, it represents total property wealth, while the ONS National Balance Sheet figure used in #292 is a land-value aggregate. Routingons/property_wealththrough the land-target computation conflates two different concepts and weakens the calibration loss.Specifically, #292 currently:
ons/property_wealthinpolicyengine_uk_data/targets/sources/ons_land_values.pyons/property_wealththroughcompute_land_value()inpolicyengine_uk_data/targets/build_loss_matrix.pyproperty_wealthas if it should match the ONS land total inpolicyengine_uk_data/tests/test_land_value_targets.pyExpected fix
ons/property_wealthfrom the ONS land target sourceons/property_wealththrough the land target computationhousehold_land_value,corporate_land_value, andland_valuehousehold_land_value <= property_wealthas an invariant test, but not as an ONS calibration targetNotes
This is separate from #295. Even if land targets still fail to converge after recalibration,
property_wealthshould not be included as a land target.