§ 6. Mr. G. Jegerasked the Chancellor of the Exchequer what direct effect his Budget proposals will have on the official cost-of-living index.
§ Mr. MaudlingThe effect of the reductions in Purchase Tax on the retail prices index is likely to be equivalent to only a fraction of one index point. As I have already stated, it is by no means certain that the end of the sugar subsidy will lead to a rise in the price of sugar.
§ Mr. MaudlingNo, but it is not possible to calculate it with exactitude without knowing exactly what will happen to retail margins.