§ Mr. Speedasked the Chancellor of the Exchequer what is the net effect on the index of retail prices of the Selective Employment Tax.
§ Mr. TaverneIt is estimated that if the tax were fully passed on in increased prices it would have added a little over ½ per cent. to the retail price index when it was first introduced and a little of ¼ per cent. when the rates were increased last September. Although it is difficult to isolate the effects of S.E.T. from other price movements, experience suggests that the actual increase has been much smaller than this.