§ Mr. Ronald Brownasked the Chancellor of the Exchequer having regard to the removal of purchase tax at 11¼ per cent. from furniture manufactures and selective employment tax from furniture retailers, and the replacement of both taxes by 10 per cent. VAT, if he will publish in the OFFICIAL REPORT a buildup of the retail price of a piece of furniture having a raw material value of £50 and a wholesale price of £100.
§ Mr. HigginsActual figures will depend upon the retail margin. But as the Shoppers Guide indicates, the overall effect on price is likely to be an increase of between 2p and 3½p in the pound.