§ 33. Mr. Dodds-Parkerasked the Chancellor of the Exchequer whether he will seek to offset the forthcoming temporary increase in the price of petrol and oil by an equivalent reduction in tax.
§ The Chief Secretary to the Treasury (Mr. John Diamond)I would refer the hon. Member to the reply given on 4th July to the hon. Member for Surbiton (Mr. Fisher).—[Vol. 749, c. 217.]
§ Mr. Dodds-ParkerThe right hon. Gentleman should have another look. If prices are to go up, this is an easy way to keep them steady.
§ Mr. DiamondThis is not an easy way to keep them steady. It is very expensive. A total of £120 million would be involved.