HC Deb 08 May 1970 vol 801 c200W
Mr. Dickens

asked the Chancellor of the Exchequer what was the rise in the general price level between the fourth quarters of 1964 and 1969; and how much of this was attributable to increases in expenditure taxes, higher import prices, higher interest rates, price increases aiming at higher returns on capital, pricing policies aimed at making consumers pay a higher proportion of capital investment, increased wages and salaries, and other factors, respectively, showing separately the estimated effect of each factor.

Mr. William Rodgers:

Between the fourth quarters of 1964 and 1969 the general price level, as measured by the price index for total final expenditure on goods and services, rose by 23 per cent. An analysis of this increase is not available in the form specified by my hon. Friend but about 24 per cent, of this rise was attributable to net taxes on expenditure, 14 per cent, to prices of imports of goods and services, 50 per cent, to income from employment and 12 per cent, to gross profits and other trading income.