HC Deb 06 June 1972 vol 838 cc68-9W
Mr. Dalyell

asked the Chancellor of the Exchequer what estimate he has made of the reduction in the cost of food as a direct result of the lowering of the costs of distribution through reductions in selective employment tax.

Mr. Nott

It is estimated that the halving of SET in July, 1971, reduced the incidence of SET on food by about £25 million. Some price reductions were made immediately upon the announcement of 30th March, 1971, of the halving of SET and others followed when the cuts became effective on 5th July, 1971.