§ 14. Mr. Lewis
asked the Minister of Labour to what extent the increase in valuation proposed under the Rating and Valuation (Miscellaneous Provisions) Act, 1955, will increase the cost of living.
§ Mr. Iain Macleod
The combined effect of re-valuation and current changes in rate poundages on the Retail Prices Index will not be known until full inquiries have been made regarding the changes in the payments being made by householders. If rates in the aggregate remained unaltered the re-valuation would result, on average, in a smaller share of these rates falling upon dwelling houses, with a corresponding reduction in the Index of Retail Prices.