§ Mr. David Howell
asked the Chancellor of the Exchequer whether he will estimate the total effect of the measures announced on 15th December on the RPI up to the end of 1978.
§ Mr. Robert Sheldon
I estimate that the direct effect on the RPI of the measures announced on 15th December, excluding the fiscal adjustment for 1978–79 the form of which has yet to be decided, will be about ¾ per cent. by the end of 1978.