§ 42. Mr. Woodburnasked the Chancellor of the Exchequer how much is now required to purchase at the latest prices the same goods and services as could in 1951 be purchased for 20s.; and, of the changes, how much is due, respectively, to increases in import prices, to changes in taxes and subsidies, and to home costs.
§ Mr. H. BrookeAs will be seen from the Appendix toThe Economic Implications of Full Employment (Cmd. 9725), the price index of final output, for consumption, investment and exports, rose between 1951 and 1955 by 11 per cent.; 11 per cent. of 20s. is 2s. 2d. The same appendix shows that the rise in home costs per unit of output between 1951 and 1955 was 17 per cent. and was 56W thus more than sufficient to account for the whole increase in the prices of final output.