§ Mr. Hordern
asked the Chancellor of the Exchequer if he will estimate the effect on the retail price index of a change of 1 per cent. of value added tax on the present range of goods and services now covered by value added tax.
§ Mr. Hayhoe
A change in the rate of value added tax of one percentage point would have an impact effect on the retail price index of 0.5 per cent.