§ Mr. Higginsasked the Chancellor of the Exchequer what he estimates will be the increased yield in 1967–68, and in a full year, of Purchase Tax, Customs and Excise duties, and other taxes and duties, 410W as a result of devaluation; what effect these increases will have on the cost of living index; and whether the increases have been taken into account in calculating the figure of 2½ to 3 per cent. rise in the index expected to result directly from devaluation.
§ Mr. Roy JenkinsComplete estimates of the changes in yields are not available. But, since most indirect taxes are specific, the contribution to the expected rise in retail prices, though included in the estimate of 2½–3 per cent., will be insignificant.