§ Mr. Newton
asked the Chancellor of the Exchequer what he expects will be the effect on the index of retail prices of the measures announced in his Budget Statement on 26th March and in his statement on 22nd July, respectively, by August, and by the end of December 1974.
§ Mr. Dell
The estimates are as follows:
Net RPI effect by August 1974 December 1974 26th March measures: (i) increases in nationalised industry price +1.0 +2.0 (ii) other measures +0.35 -0.45 22nd July measures -1.0 -1.6* * Excluding the additional food subsidies described on 22nd July which are taken into account in the first line since they were provided for in the Budget Statement.