HC Deb 11 February 1954 vol 523 cc1355-6
38 . Mr. G. Jeger

asked the Chancellor of the Exchequer if he will give an estimate of the cost of restoring food subsidies so as to bring food prices down to the level at which they stood in October, 1951.

Mr. Boyd-Carpenter

In order so to adjust the subsidies as to restore food prices to the level ruling in October, 1951, it would be necessary to raise their cost to between £700 and £800 million a year.

Mr. Jeger

Is not this £700 million or £800 million the amount which is now being paid directly by consumers out of their own pockets? Does not that show that the cost of living on subsidised foods alone has risen by nearly 8s. a week?

Mr. Boyd-Carpenter

The hon. Member omits from that calculation the important fact that much more of the foods then subsidised are now being eaten.

Mr. Godber

Would my right hon. Friend give an estimate of the reduction in quantities of food which would bring us down to the subsistence level of October, 1951?

Mr. Boyd-Carpenter

If my hon. Friend will put that question down, I will do my best to make the necessarily somewhat complex calculations.