§ 35. Mr. RHYS DAVIESasked the Financial Secretary to the Treasury the effects on the revenue up to the last convenient date of the recent reduction in the price of beer?
§ Mr. HORE-BELISHAAs the hon. Member will appreciate, the effects on the revenue of the recent reduction in the price of beer depend upon what the consumption would have been if the duty had not been reduced, which is, of course, a matter of conjecture. As shown in the Budget White Paper, the reduction of duty is estimated to cost the Exchequer £14 millions in 1933–34 and £16.3 millions in a full year. It would be premature at present to draw any conclusions as to the effect of the reduction upon the revenue.