HC Deb 12 December 1967 vol 756 cc84-5W
60. Mr. Rankin

asked the Chancellor of the Exchequer what estimate he has made of the extent to which the advantage to be gained by exporters from devaluation has been reduced by the qualifications introduced in the measures relating to fiscal policy recently announced by Her Majesty's Government.

Mr. Roy Jenkins

The average effect on exporters' costs of withdrawing the export rebate and the additional sum in the S.E.T. premium is estimated at about 2½ per cent. The effect of the 2½ per cent. increase in Corporation Tax on unit profits cannot be precisely estimated but will be small.